[THE INVESTOR] Samsung Electronics is expected to see record operating profit of about 9 trillion won (US$7.85 billion) in the first quarter amid soaring chip prices, Daishin Securities projected on March 13.
Even though the first three months of the year are considered off-season for sales of electronics products, the securities firm attributed the upbeat outlook to the company’s robust chip business in recent months.
Daishin Securities predicted Samsung’s annual operating profit could reach 49 trillion won, raising the target stock price from 2.27 million won to 2.38 million won.
On the day, Samsung shares closed at 2.03 million won, up 21,000 won or 1.05 percent from the previous trading session.
By Kim Young-won (firstname.lastname@example.org)