October 28, 2013 / 1:04 AM / in 4 years

Samsung Elec shares rise 2 percent after third-quarter earnings boost outlook

A man using his mobile phone walks past a Samsung Electronics shop in the company's main office building in central Seoul July 23, 2013.Lee Jae-Won

SEOUL (Reuters) - Shares in Samsung Electronics rose 2 percent on Monday, driven by expectations that the South Korean technology giant will continue to post solid earnings after its record-high profit in the July to September period, analysts said.

Some analysts raised their target prices for Samsung, expecting a strong recovery in its memory chip business to help offset slowing growth of smartphone profits in the coming quarters.

Samsung shares rose as much as 2 percent to 1,478,000 Korean won ($1,400) per share, the highest intraday level in a week.

Reporting by Hyunjoo Jin and Jungmin Jang; Editing by Richard Pullin

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below