Samsung Elec shares rise 2 percent after third-quarter earnings boost outlook

Reuters
A man using his mobile phone walks past a Samsung Electronics shop in the company's main office building in central Seoul July 23, 2013. REUTERS/Lee Jae-Won

SEOUL (Reuters) - Shares in Samsung Electronics rose 2 percent on Monday, driven by expectations that the South Korean technology giant will continue to post solid earnings after its record-high profit in the July to September period, analysts said. Some analysts raised their target prices for Samsung, expecting a strong recovery in its memory chip business to help offset slowing growth of smartphone profits in the coming quarters. Samsung shares rose as much as 2 percent to 1,478,000 Korean won ($1,400) per share, the highest intraday level in a week. (Reporting by Hyunjoo Jin and Jungmin Jang; Editing by Richard Pullin)