[Edaily Reporter Kwon Oh Seok ] NH INVESTMENT & SECURITIES announced on the 24th that it is maintaining its “Buy” rating on #SamsungE&A and raising its target price from 72,000 won to 80,000 won.

Lee Eun-sang, an analyst at NH INVESTMENT & SECURITIES, explained, “As sales growth at affiliated companies gains momentum in line with semiconductor plant expansion plans, we view the expansion of orders for the Middle East—including reconstruction and bypass pipeline projects—positively,” adding, “The target price increase reflects the growth in orders and sales from SamsungElectronics.”
The firm projected that expected new orders for 2026 would reach 14 trillion won (up 121% year-over-year), exceeding the annual guidance of 12 trillion won. He noted, “This is driven by an expansion in orders related to SamsungElectronics’ factory expansion,” and predicted, “Considering the projects planned for Pyeongtaek, Gwangju, and Yongin—which can begin construction by 2027 (a total of three phases)—it will be possible to secure related orders of around 7 trillion won annually starting in 2027.”
He also noted that further upward revisions to earnings estimates are possible through securing orders for projects in the Middle East with high visibility in the second half of the year, such as reconstruction and bypass pipeline projects. The analyst stated, “Following the war in the Middle East, the order landscape is shifting toward a focus on supply chain security. Given that the company was responsible for the construction of a significant number of major energy facilities during the 2010–2012 Middle East expansion cycle, and considering the national security implications of Middle Eastern energy EPC (engineering, procurement, and construction) projects as well as diplomatic interests with key countries, it is likely that the company will secure a meaningful volume of orders,” the analyst explained.
Operating profit for the second quarter is expected to reach 273.1 billion won (+51%), exceeding both NH INVESTMENT & SECURITIES’ estimate and the market consensus. He added, “This is attributable to improved performance in the high-tech industry segment (related to affiliates),” noting that “the rapid realization of SamsungElectronics’ expansion projects will drive revenue and operating profit in 2026.”