Samsung Electronics Co Ltd last = 43850 KRW 1w: -600 (-1.3%)
% vs. spot / Price1M6M12MLT(2Y)LT(3Y)
Target Price (consensus)24.7%----
Upside (Bull Case)24.7%----
Downside (Bear Case)-----

Strong 2017 dividend for me is a positive signal that reinforces my view on improving shareholder returns and corporate governance. Company's memory business shows strong growth (however in NAND segment downturn is possible). OLED sales growth might by slower due to sluggish near-term smartphone demand but expect recovery in 2H 2018. Additional upside may come from memory price increasing (DRAM/NAND) as well as higher-than-expected end demand for PC/handsets and LCD TVs.