Analysts see room for 40% rise in Samsung shares despite profit miss

Seoul

AT LEAST 10 analysts reaffirmed their "buy" recommendations on Samsung Electronics Co after its fourth- quarter earnings miss, estimating that the world's largest smartphone maker could climb about 40 per cent in the coming year.

After three consecutive years of declines, shares of the South Korean company could rise during the coming 12 months to 1.61 million won (S$1,910) - the average target price of 38 analysts surveyed by Bloomberg. That's partly contingent on Samsung's abilities to tap its twin cash-cows of memory chips and displays, and avoid the temptation to claw back market share in a globally depressed smartphone market.