[Goldman Sachs Raises Samsung Electronics Target Price to 490,000 KRW, Expects Memory Demand to Surpass Supply] Goldman Sachs has raised the 12-month target price for Samsung Electronics from 480,000 KRW to 490,000 KRW and increased its 2026 to 2028 earnings per share forecast by approximately 2%. Goldman Sachs expects memory demand to significantly exceed supply, with the gap widening in 2027 and supply tightening in 2028. Samsung Electronics has signed long-term agreements with major data center clients, aiming to become a leader in the AI memory market. HBM4 is expected to account for over 60% of HBM revenue by the second half of 2026. The stock is currently trading at a forecasted 2027 price-to-earnings ratio of 3.1x and a price-to-book ratio of 1.2x, with a shareholder return rate approaching 50%.