Korean Brokerages Issue More Downward Price Targets Than Upward for First Time This Year in July

According to F&Guide, South Korean brokerage firms issued 323 downward price target revisions versus 249 upward revisions during the first 16 days of July 2026, marking the first month this year when downgrades exceeded upgrades. The shift reverses a sustained upward bias that began in January, when upward revisions outnumbered downward ones by 4.1 times, peaking at 9.7 times in February before narrowing to 2.2 times by June. The trend extends to major semiconductor stocks: SK Hynix and Samsung Electronics also saw declining upward revisions from April through June. Target price forecasts for the two chipmakers vary significantly across brokerages—Samsung Electronics ranges from 360,000 won (DB Securities) to 600,000 won (KB Securities), while SK Hynix spans 1.85 million won (BNK Investment Securities) to 4.2 million won (KB Securities and Mirae Asset Securities).
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