Samsung Electronics’ operating profit to hit W29.5tr this year: Dongbu Securities

[THE INVESTOR] Dongbu Securities said on July8 that it will keep a “buy” opinion on Samsung Electronics shares as it expects the tech giant’s 0perating profit to increase 11.6 percent to 29.5 trillion won (US$2.5 billion) this year.

The brokerage also kept unchanged the price target of 1.8 million won.

On July 8, Samsung Electronics closed 0.69 percent higher at 1,460,000 won.

Dongbu based the upbeat forecast on Samsung’s second-quarter operating profit, which stood at 8.1 trillion won, up 17.4 percent from the same period in 2015.

Sales rose 3 percent to 50 trillion won.

The brokerage added that the latest quarterly earnings already seem to have been factored into Samsung Electronics’ share prices.


By Kim Ji-hyun (jemmie@heraldcorp.com)