JPMorgan Raises Samsung Electronics Target Price to 480,000 Won, Reiterates Overweight

JPMorgan has reiterated its “overweight” rating on Samsung Electronics and raised its December 2026 target price to 480,000 won after the chipmaker reported strong preliminary results for the second quarter of 2026, according to Jiemian News. The bank said Samsung’s earnings outperformed expectations that had already been lowered by the market, despite the company booking a one-off provision of more than 15 trillion won for labor costs in the first half of the year, helped by a surge in memory chip prices driven by AI infrastructure buildouts and a weaker won. JPMorgan added that after a recent share-price pullback, Samsung was trading at a forward 12-month rolling price-to-earnings ratio of 5.2x, and described it as the cheapest high-quality memory asset globally.