Samsung Electronics Surges 8% to 309,500 Won, Target Price Raised to 590,000 Won

According to Korea Investment & Securities and KB Securities, Samsung Electronics and SK Hynix surged on July 2 as analysts raised target prices amid easing macroeconomic concerns. Samsung climbed 8.22% to 309,500 won with its target price raised to 590,000 won, while SK Hynix jumped 10.88% to 2.425 million won with KB Securities lifting its target to 4.2 million won.

Analysts cited robust memory demand through 2028 and strong second-quarter earnings as drivers. Samsung's Q2 operating profit is estimated at 86 trillion won, up 1,740% year-over-year, while SK Hynix's Q2 operating profit is projected at 69 trillion won, up 649% from the same period last year.