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

Mirae Asset Securities

Leading full-service brokerage firm in Vietnam. 

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.

External broker reports(aggregated public sources)

Equity Bottom-Up

<ul><li>We lift our 12-month target price for Samsung Electronics (SEC) by 15.6% to W111,000 (from W96,000).</li><li>Notably, we revised up our 2026 operating profit forecast by 12.2% to W55.2tr, reflecting a +6.2%p adjustment to our 2026 DRAM ASP growth forecast.</li><li>Additionally, with 12-layer HBM3E shipments to Nvidia reportedly underway, we revised up our target EV/EBITDA multiple for the memory business (reducing the discount to peers from 30% to 20%).</li></ul><p><em>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.</em></p>

We lift our 12-month target price for Samsung Electronics (SEC) by 15.6% to W111,000 (from W96,000).Notably, we revised up our 2026 operating profit forecast by 12.2% to W55.2tr, reflecting a +6.2%p adjustment to our 2026 DRAM ASP growth forecast.Additionally, with 12-layer HBM3E shipments to Nvidia reportedly underway, we revised up our target EV/EBITDA multiple for the memory business (reducing the discount to peers from 30% to 20%).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/Buy)Broad-Based Industry Recovery Underway