Samsung, Hyundai electronic firms¡¯ ratings downgraded

Goldman Sachs announced Tuesday its downgrading of investment ratings on Samsung Electronics and Hyundai Electronic Industries to ¡°market performer.¡± Goldman Sachs explained that the low possibility that DRAM prices would recover until the first half of next year was the reason behind its downgrading. It further added that it regretted not downgrading their investment ratings earlier than the market.

Under such criteria, the investment rating of Samsung Electronics dropped from ¡°recommended list¡± to ¡°market performer.¡± Moreover, Goldman Sachs downgraded Samsung Electronics¡¯ EPS (earnings per share) for this year and next by 2% and 8%, respectively.

Likewise, Goldman Sachs downgraded Hyundai Electronics Industries from ¡°trading buy¡± to ¡°market performer¡± and its EPS by 26% and 45%, respectively.