Samsung Electronics stock price continued its rally on July 8 following the company’s second-quarter earnings surprise, raising expectations that shares will reach 90,000 won.
Securities analysts remain optimistic. Roh Geun-chang, an analyst at Hyundai Motor Securities, increased his price target to 110,000 won from 100,000 won, predicting further improvement in Samsung’s third-quarter results. As of July 8, the average price target for Samsung Electronics was 104,826 won.
By 9:23 a.m., Samsung shares were trading at 87,600 won, up 500 won (0.57%) from the previous trading day. Earlier in the day, the stock reached a one-year high of 88,500 won, marking the second consecutive trading day it has hit a one-year high and is on track to reach 90,000 won.
Samsung’s stock price gains are largely attributed to the company’s second-quarter earnings report, which significantly exceeded expectations. On July 5, Samsung reported a preliminary consolidated operating profit of 10.4 trillion won, up 1,452% year-on-year. This was about 25% higher than the stock market’s forecast of 8 trillion won.
Revenue for the same period rose 23% to 74 trillion won, driven by the expansion of the AI market and improvements in the semiconductor industry. As a result, Samsung’s stock closed at 87,100 won on July 5, up 2,500 won, or 2.96%, from the previous trading day.
