Kiwoom Securities Cuts Samsung Electronics Target to 390,000 Won; IBK and KB Raise Targets Same Day

According to News1, on July 8, Kiwoom Securities lowered its Samsung Electronics (005930) price target to 390,000 Korean won from 430,000 won, marking the first downward revision since October 2025 and the lowest among domestic brokerages. Researcher Park Yu-ak cited softening earnings growth in the second half and simultaneous concerns over competition from Chinese memory makers amid gains in HBM4 and eSSD market share.

Contrasting Kiwoom's move, IBK Investment and Securities raised its target to 460,000 won from 350,000 won, while KB Securities increased its target to 600,000 won from 530,000 won—the highest among local brokerages. Global investment banks maintained their targets: Citigroup at 530,000 won, JP Morgan and Goldman Sachs at 480,000 won each, citing Samsung as the world's most undervalued memory maker with long-term supply constraints not yet fully reflected in valuation.