External broker reports(aggregated public sources), Mirae Asset Securities

Mirae Asset Securities

External broker reports(aggregated public sources)

Mirae Asset Securities Co.,Ltd. provides comprehensive wealth management services. The Company offers fixed income securities brokerage, securities dealing, equity underwriting, and other services. Mirae Asset Securities also deals with mergers and acquisitions, foreign currency, and financial derivatives

Equity Bottom-Up

<ul><li>We lift our target price for Samsung Electronics (SEC) by 21% to W187,000 (from W155,000).</li><li>Using a sum-of-the-parts (SOTP) valuation, we estimate the company’s fair value at W1,271tr.</li><li>Based on 2026F EPS and BPS, our target price implies a P/E of 11.6x and P/B of 2.6x, both of which remain below the 2026F global memory sector averages of 14.2x and 3.6x, respectively.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

We lift our target price for Samsung Electronics (SEC) by 21% to W187,000 (from W155,000).Using a sum-of-the-parts (SOTP) valuation, we estimate the company’s fair value at W1,271tr.Based on 2026F EPS and BPS, our target price implies a P/E of 11.6x and P/B of 2.6x, both of which remain below the 2026F global memory sector averages of 14.2x and 3.6x, respectively.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Samsung Electronics (005930 KS)Remarkable Earnings and Potential for Additional Shareholder Returns

External broker reports(aggregated public sources), Daishin Securities

Daishin Securities

Founded in 1962, Daishin Securities is a leading financial services provider in Korea. Daishin securities does its best to provide high quality financial service and to satisfy the various needs of investors. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>Preliminary 4Q results imply a consensus beat on rebounding memory profitability </li><li>We raise our memory price outlook and forecast 2026 OP at W150tn</li><li>Maintain Buy rating and raise target price to W180,000</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Preliminary 4Q results imply a consensus beat on rebounding memory profitability We raise our memory price outlook and forecast 2026 OP at W150tnMaintain Buy rating and raise target price to W180,000Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Samsung Electronics (005930 KS Jan 8, 2025) - No Signs of Slowing

<ul><li>Back on the growth track3Q25 preliminary results We raise our target price for Samsung Electronics (SEC) to W127,000 (from W111,000)</li><li>We believe that rising market prices for memory products are being reflected in ASP more quickly than expected</li><li>In addition, the foundry business appears to be turning around amid narrowing losses, and newly released flagship foldable models are outperforming their predecessors despite stagnant smartphone market conditions</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Back on the growth track3Q25 preliminary results We raise our target price for Samsung Electronics (SEC) to W127,000 (from W111,000)We believe that rising market prices for memory products are being reflected in ASP more quickly than expectedIn addition, the foundry business appears to be turning around amid narrowing losses, and newly released flagship foldable models are outperforming their predecessors despite stagnant smartphone market conditionsContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Samsung Electronics (005930 KS/Buy)Back on the Growth Track

Thematic (Sector/Industry)

<ul><li>The power equipment industry is entering a supercycle.</li><li>Driven by surging power demand from data centers, new capacity additions are accelerating across large-scale nuclear power plants, SMRs, and gas turbines.</li><li>The US Department of Energy is pushing for an emergency power auction that could pave the way for the construction of new power plants worth around US$15bn. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

The power equipment industry is entering a supercycle.Driven by surging power demand from data centers, new capacity additions are accelerating across large-scale nuclear power plants, SMRs, and gas turbines.The US Department of Energy is pushing for an emergency power auction that could pave the way for the construction of new power plants worth around US$15bn. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Mirae Asset Minutes [2026: Volume 2]Biweekly Strategy Meeting Recap

<ul><li>Momentum from robotics and autonomous driving remains intact.</li><li>Hyundai Motor Group (HMG) is set to announce its AI robotics strategy on Jan. 6 and is expected to appoint an advanced vehicle platform division head in 1Q26.</li><li>In addition, a software-defined vehicle (SDV) prototype is set to be showcased in 3Q26. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Momentum from robotics and autonomous driving remains intact.Hyundai Motor Group (HMG) is set to announce its AI robotics strategy on Jan. 6 and is expected to appoint an advanced vehicle platform division head in 1Q26.In addition, a software-defined vehicle (SDV) prototype is set to be showcased in 3Q26. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Mirae Asset Minutes [2026: Volume 1]Biweekly strategy meeting recap

South Korea

Samsung Electronics Co., Ltd. manufactures a wide range of consumer and industrial electronic equipment and products such as semiconductors, personal computers, peripherals, monitors, televisions, and home appliances including air conditioners and microwave ovens. The Company also produces Internet access network systems and telecommunications equipment including mobile phones.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Samsung Electronics (SMSN LI)

Samsung Electronics (005930 KS)Remarkable Earnings and Potential for Additional Shareholder Returns

We lift our target price for Samsung Electronics (SEC) by 21% to W187,000 (from W155,000). Using a sum-of-the-parts (SOTP) valuation, we estimate...

Mirae Asset Securities

Samsung Electronics (005930 KS Jan 8, 2025) - No Signs of Slowing

Preliminary 4Q results imply a consensus beat on rebounding memory profitability. We raise our memory price outlook and forecast 2026 OP at W150tn

Daishin Securities

Samsung Electronics (005930 KS/Buy)Back on the Growth Track

Back on the growth track3Q25 preliminary results We raise our target price for Samsung Electronics (SEC) to W127,000 (from W111,000)

Mirae Asset Securities

Mirae Asset Minutes [2026: Volume 2]Biweekly Strategy Meeting Recap

Driven by surging power demand from data centers, new capacity additions are accelerating across large-scale nuclear power plants, SMRs, and gas...

Mirae Asset Securities

Mirae Asset Minutes [2026: Volume 1]Biweekly strategy meeting recap

Hyundai Motor Group (HMG) is set to announce its AI robotics strategy on Jan. 6 and is expected to appoint an advanced vehicle platform division...

Mirae Asset Securities

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)