Mirae Asset Cuts Samsung Electronics Target Price to 370,000 KRW on July 29 Amid 13% Stock Decline

According to Mirae Asset Securities on July 29, the brokerage cut Samsung Electronics' target price to 370,000 KRW, citing excessive recent declines. The stock fell 13.39% on July 28 to close at 220,000 KRW. Analyst Kim Young-gun said the recent selloff is overdone, noting that while China's lithography equipment localization poses near-term concerns, the impact on Samsung's earnings estimates is limited through 2028. The brokerage maintained a buy rating, with Samsung's 2026 expected price-to-earnings ratio and price-to-book ratio now at 4.5x and 1.9x, respectively. Mirae Asset expects higher profitability to drive shareholder returns, with potential dividend yields of 6.7–9.3% for common shares if the company distributes 50% of free cash flow in 2026–2026.
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