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Photo = Yonhap news |
[Alpha Biz= Reporter Kim Sangjin] Yuanta Securities identified Samsung Securities (016360) as its top pick in the sector, citing anticipated growth in net income for 2025 and the highest dividend yield among its peers. It set a target price of ₩63,000, representing a potential upside of 34% from the previous day's closing price of ₩46,850.
Key Highlights from Yuanta's Analysis:
Dividend Yield:
Samsung Securities is expected to deliver a dividend yield of approximately 8% in 2024, the highest among covered securities firms.
Earnings Forecast for 2025:
Net income attributable to controlling shareholders is projected to reach ₩947.8 billion, a 4.3% increase year-over-year (YoY).
Business Segment Performance:
Fee Income: Anticipated to grow 3.0% YoY, driven by balanced growth across brokerage, wealth management (WM), and investment banking (IB).
Brokerage Interest Income: Expected to decline 1.9% YoY due to margin pressure from lower interest rates.
Trading and Product Profits:
Projected to grow 3.3% YoY, supported by stable increases in dividend and distribution income and improved disposal and valuation gains amid lower interest rates.
Yuanta's optimistic outlook reflects Samsung Securities' ability to capitalize on its diversified income streams and robust shareholder return policies.
AlphaBIZ Kim SangJin(letyou@alphabiz.co.kr)
