UBS has raised Samsung Electronics' target price by 45% to KRW 400,000, following the conclusion of union negotiations and citing four positive factors. The rating is set at 'Buy,' and the stock has been added to UBS's Asia-Pacific Focus List. The four positive factors include: AI-driven growth in memory demand, with supply shortages potentially persisting until the second quarter of 2028; Samsung Electronics being better positioned to benefit from revised long-term agreements; Samsung Electronics' HBM market share expected to reach parity with SK Hynix at 40% each by 2027; and significant free cash flow for Samsung Electronics in 2026-2027, which could yield substantial returns if 50% is returned to shareholders. UBS has also upgraded its operating profit and earnings per share forecasts for Samsung Electronics for 2026-2030, believing that the current average forecast price-to-earnings ratio of approximately 4.3 times does not fully reflect its positive prospects.