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Citi Trims Price Targets for SK Hynix and Samsung Electronics Amid Currency Headwinds

Electronic Technology · Semiconductors · yonhap_finance · 2026-09-03

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Citi has lowered its price targets for SK Hynix and Samsung Electronics, citing currency headwinds and one-off costs, while maintaining 'Buy' ratings.

What Happened

Price Target Adjustments: Citi has adjusted its earnings forecasts and price targets for both SK Hynix and Samsung Electronics, primarily reflecting the negative impact of currency fluctuations. Consequently, the price target for SK Hynix was reduced to 3.0 million KRW from 3.1 million KRW, while Samsung Electronics' target was lowered to 430,000 KRW from 450,000 KRW.

SK Hynix Outlook: Although Citi lowered its profit estimates for SK Hynix for the third quarter and full year of 2026, it maintained a positive outlook based on the solid fundamentals of the memory market. The firm expects the upward cycle in the memory industry to persist despite the currency headwinds.

Samsung Electronics Analysis: For Samsung Electronics, the downward revision in third-quarter profit estimates was driven by currency impacts and the reflection of performance-based bonuses. Weakness in the mobile and consumer electronics divisions was also cited as a key factor contributing to the lower earnings outlook.

Growth Drivers: Despite short-term earnings pressure, Citi highlighted Samsung's HBM4 competitiveness and limited memory supply as potential growth catalysts. The firm maintained its 'Buy' ratings for both companies, citing the robust memory market environment and attractive shareholder return policies.

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