We lift our TP on Samsung Heavy Industries (SHI) to KRW6,000 (12-month forward BVPS x target P/B of 0.79x) to reflect revisions to: (1) ROE; (2) market risk premium applied by KB Securities (5.93% in 2020 → 7.28% in 2021); (3) earnings forecast; and (4) beta adjustment method, in addition to...