Korea Investment & Securities (KIS) raised its target price for Samsung Electronics by 10% to 650,000 won and maintained its “Buy” rating. The firm noted that Samsung Electronics’ second-quarter results exceeded expectations and that the company has signed long-term supply agreements with the world’s top five hyperscale data center customers. KIS believes that the market continues to price Samsung based on traditional cyclical stock logic, overlooking the fact that these long-term supply agreements are driving the memory business’s transition from being “cycle-driven” to “order-driven,” resulting in the current stock price being “severely undervalued.” Samsung Electronics’ second-quarter operating profit reached 89.5 trillion won, an increase of 1,814% year-over-year, exceeding market expectations by approximately 5.5%.