JPMorgan analyst Jay Kwon downgraded Samsung (SSNLF) to Neutral from Overweight with a price target of KRW 60,000, down from KRW 83,000. Legacy DRAM pricing risks appear stronger than initially expected, leading JPMorgan to believe memory shares will be under pressure in the near term, the analyst tells investors in a research note. The firm expects the upcoming consensus earnings cut cycle to be lagging and have a limited impact on share prices, however, As investors look into a 2026 recovery, memory stocks should gradually bottom and offer a better re-entry point, contends the firm.
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