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)
- Divers feel with their hands for corpses in depths of South Korean ferry |
- Obama reassures Japan, other allies on China ahead of visit
- Satellites show North Korea nuclear test unlikely: think tank
- Teen who stowed away on Hawaii flight resting in hospital
- China factory activity shrinks for fourth month |