Employees arrive at Samsung Electronics' headquarters in Suwon, Gyeonggi Province, May 27. (Im Se-jun/The Korea Herald) With SK hynix shares surging after the chipmaker unveiled plans to list American depositary receipts, Samsung Electronics could see a fresh rerating if it pursues a similar move, KB Securities said Thursday.Shares of SK hynix have rallied on optimism surrounding its planned Nasdaq ADR listing, briefly overtaking Samsung Electronics earlier this week to become South Korea's most valuable listed company by market capitalization.Samsung Electronics could also benefit from a US ADR listing, which would broaden access for global investors, according to a report by KB Securities research head Kim Dong-won."A US ADR listing is viewed as one of the most viable capital policy options for broadening access to global investors, and we expect discussions on the matter to gain traction going forward," Kim said in the report."Recent meetings with overseas investors showed that interest in a potential US ADR listing for Samsung Electronics was far stronger than expected. Many investors viewed such a move as a powerful catalyst for the company's shares."In the report, KB Securities raised its target price for Samsung Electronics to 550,000 won ($355) from 530,000 won, citing the possibility of a US ADR listing, along with enhanced shareholder returns and improving foundry earnings.On Wednesday, SK hynix said its board approved the issuance of ADRs backed by newly issued common shares. Under the plan, the chipmaker will issue up to 17.79 million new common shares, equivalent to about 2.5 percent of its outstanding shares. The ADRs are scheduled to begin trading on the Nasdaq on July 10. Following the announcement, SK hynix shares surged more than 10 percent in Thursday trading.While Samsung Electronics had long been Korea's market bellwether, retaining its position as the most valuable company on the benchmark Kospi since 2000, SK hynix surpassed its rival in market capitalization for the first time on Monday. Although Samsung Electronics regained the lead on Wednesday, the gap between the two remains narrow.The shift reflects SK hynix's stronger stock performance. Its shares have surged roughly 340 percent year to date, compared with a gain of about 200 percent for Samsung Electronics in the same period."Given Samsung Electronics' current undervaluation and favorable market conditions, a US ADR listing scenario cannot be easily ruled out," the report added.