SEOUL, KOREA - Nomura Financial Investment said on June 10 that the share price of Samsung Electronics has already reflected the concerns about its smartphone sales and maintained the previous "buy" opinion. But Nomura adjusted Samsung's target share price downward to 2.2 million won.
The investment firm said, "It seems investors have already priced in the worst-case scenario for Samsung Electronics." Samsung's share price plunged more than 6 percent on June 7 after JPMorgan Chase cut its profit estimates on the company based on forecast that its smartphone profit would fall far short of expectations.
Nomura Financial Investment said however, "The current price level of Samsung Electronics reflects a hard-landing scenario of the smartphone market which is highly unlikely."
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