Technology
Samsung shares could rally over 40% to record highs on smartphone rebound and chips, analyst says – CNBC
Analysts see a smartphone rebound for Samsung, helped by Huawei’s woes, alongside strength in its semiconductor business, driving shares in the South Korean giant to all time highs.
Smartphones for sale at one of the Samsung retail stores in Russia.
GUANGZHOU, China Samsung shares could rally over 40% in the next year, according to one analyst who sees TV and smartphone sales rebounding sharply in the near-term and a boost in the chip division.
SK Kim, analyst at Daiwa Capital Markets, raised his 12-month price target on the stock to 85,000 Korean won ($71.52) from 82,000 Korean won. That represents upside of around 45% from Wednesday’s close, when Kim issued his target …
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