Category: RESEARCH

Brokerage : Kyobo Securities Analyst : Bo-young Choi Investment Rating : Buy (Maintained) Target Price : KRW 200,000 (Maintained) Core Momentum : Supported by 90% MLCC fab utilization and lean 4-week inventory despite FX headwinds and sluggish IT set demand, positioning for a sharp earnings turnaround in 2025 upon downstream demand recovery under tight industry…

Read More “[Research] Samsung Electro-Mechanics (009150) – Kyobo Securities | Lean Inventory & High Utilization · Non-IT Mix · 2025 Structural Turnaround / 2024-09-30” »

Brokerage : Shinhan Securities Analyst : Kang-ho Oh Investment Rating : BUY (Maintained) Target Price : KRW 210,000 (Maintained) Core Momentum : Poised to cross the KRW 1T operating profit milestone in 2025, driven by simultaneous P and Q expansion in MLCCs, accelerating high-value product mix, and surging Big Tech AI infrastructure CapEx. 📊 1….

Read More “[Research] Samsung Electro-Mechanics (009150) – Shinhan Securities | AI MLCC Structural Growth · CapEx Expansion · 2025 Profit Milestone / 2024-09-26” »

Brokerage : Kiwoom Securities Analyst : So-won Kim Investment Rating : BUY (Maintained) Target Price : KRW 210,000 (Maintained) Core Momentum : Poised for a >40% YoY operating profit surge in 2025 past near-term FX headwinds, driven by tight supply in AI server MLCCs, the 4Q24 ramp of AI accelerator FC-BGA substrates, and cross-divisional AI…

Read More “[Research] Samsung Electro-Mechanics (009150) – Kiwoom Securities | AI MLCC Tight Supply · AI Accelerator FC-BGA · 2025 All-Division Momentum / 2024-09-26” »

Brokerage : iM Securities Analyst : Eui-young Ko, RA: Woo-sung Son Investment Rating : Buy (Maintain) Target Price : KRW 180,000 (Lowered) Core Momentum : While short-term operating leverage is weighed down by sluggish IT set recovery and a faster-than-expected decline in the USD/KRW exchange rate, mid-to-long term structural health is reinforced by lean 30-day…

Read More “[Research] Samsung Electro-Mechanics (009150) – iM Securities | Lean Inventory & Cautious Supply · AI/Auto MLCC Expansion · 2025 AI Substrate Ramp / 2024-09-26” »

Market: KOSPI (000660) Brokerage : IBK Securities Analyst : Woon-ho Kim (RA Min-gu Kang) Investment Rating : BUY (Maintained) Target Price : KRW 300,000 (Maintained) Core Momentum : Sustained 2025 earnings outperformance driven by aggressive 1b nm node migration and expanding HBM capacity, overcoming near-term headwinds from FX shifts and sluggish PC/mobile pricing 📊 1….

Read More “[Research] SK hynix (000660 / SKHY) – IBK Securities | 3Q Forecast Adjustment · HBM CapEx Expansion · Long-Term Growth Intact / 2024-09-26” »

Brokerage : Meritz Securities Analyst : Seung-soo Yang Investment Rating : Buy (Maintained) Target Price : KRW 200,000 (Maintained, 12M Target Price) Core Momentum : Set for a structural earnings rebound in 2025 past 2H24 IT destocking, propelled by automotive/industrial resilience and surging MLCC content across AI servers and On-Device AI devices. 📊 1. [Valuation…

Read More “[Research] Samsung Electro-Mechanics (009150) – Meritz Securities | AI MLCC Content Expansion · Server & On-Device AI · 2025 Structural Rebound / 2024-09-25” »

Brokerage : Daishin Securities Analyst : Kang-ho Park Investment Rating : BUY (Maintained) Target Price : KRW 200,000 (Maintained, 6M Target Price) Core Momentum : Driven by >90% MLCC fab utilization and mix-led margin gains in 3Q24, with earnings accelerating into 2025 (+28.9% YoY Operating Profit) powered by the commencement of FC-BGA production for AI…

Read More “[Research] Samsung Electro-Mechanics (009150) – Daishin Securities | MLCC High Utilization & Mix · AI FC-BGA · 2025 Growth Rebound / 2024-09-24” »

Market: KOSPI (000660) Brokerage : DS Investment & Securities Analyst : Soo-rim Lee Investment Rating : BUY (Maintained) Target Price : KRW 290,000 (Maintained) Core Momentum : Sustained earnings resilience and price premium driven by 12-high HBM3e ramp-up and structural AI server demand, refuting market concerns over memory oversupply and legacy softness 📊 1. [Valuation…

Read More “[Research] SK hynix (000660 / SKHY) – DS Investment & Securities | Resilient HBM Growth · Oversupply Concerns Eased · Valuation Appeal / 2024-09-24” »

Market: KOSPI (000660) Brokerage : Mirae Asset Securities Analyst : Young-gun Kim (Jae-ho Kim) Investment Rating : BUY (Maintained) Target Price : KRW 260,000 (Maintained) Core Momentum : Sustained structural earnings expansion driven by proven 1b/1c node stability, upcoming 12-high HBM3E volume shipments, and locked-in 2025 supply commitments 📊 1. [Valuation & Key Financial Metrics]…

Read More “[Research] SK hynix (000660 / SKHY) – Mirae Asset Securities | Leading-Edge Node Stability · 12-High HBM3E Ramp · Balance Sheet Deleveraging / 2024-09-20” »

Market: KOSPI (000660) Brokerage : Hyundai Motor Securities Analyst : Keun-chang Roh (RA Dong-wook Youn) Investment Rating : BUY (Maintained) Target Price : KRW 265,000 (Downgraded) Core Momentum : Sustained earnings expansion and structural growth driven by HBM3E shipment ramp for NVIDIA and robust HPC infrastructure demand, offsetting near-term legacy softness and target price revisions…

Read More “[Research] SK hynix (000660 / SKHY) – Hyundai Motor Securities | HBM Technology Leadership · Solid HPC Demand · Target Price Revision / 2024-09-13” »