Samsung Elec shares rise 2 percent after third-quarter earnings boost outlook
SEOUL (Reuters) - Shares in Samsung Electronics rose 2 percent on Monday, driven by expectations that the South Korean technology giant will continue to post solid earnings after its record-high profit in the July to September period, analysts said.
Some analysts raised their target prices for Samsung, expecting a strong recovery in its memory chip business to help offset slowing growth of smartphone profits in the coming quarters.
Samsung shares rose as much as 2 percent to 1,478,000 Korean won ($1,400) per share, the highest intraday level in a week.
(Reporting by Hyunjoo Jin and Jungmin Jang; Editing by Richard Pullin)
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Revered by millions as a beacon of hope against oppression and as an archetype of reconciliation, Nelson Mandela leaves behind a grieving nation. Video