Samsung Electronics shares trade at new record intraday high

August 17, 2016 9:54 PM EDT

A man walks behind a logo of Samsung Electronics at the company's headquarters in Seoul April 30, 2010. REUTERS/Jo Yong-Hak/File Photo

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SEOUL (Reuters) - Shares of South Korean tech giant Samsung Electronics Co Ltd traded at a new intraday record of 1.585 million won ($1,433.73) per share in early trade on Thursday, buoyed by hopes for continued earnings recovery.

Samsung, the world's No. 1 smartphone and memory chip maker, in late July reported its best quarterly profit in more than two years as its flagship Galaxy S7 smartphones propelled mobile earnings.

The median price target price from a Thomson Reuters I/B/E/S survey of 43 analysts for Samsung Electronics shares is currently 1.8 million won.

($1 = 1,105.5100 won)

(Reporting by Se Young Lee)

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