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SK Hynix. (Photo=SK Hynix) |
[Alpha Biz= Reporter Kim Minyoung] DB Financial Investment Raises SK Hynix Target Price by 39.53% to 300,000 KRW, Maintains 'Buy' Rating
On the 21st, DB Financial Investment announced that it has maintained its 'Buy' rating for SK Hynix, raising the target price from 215,000 KRW to 300,000 KRW, marking a 39.53% increase.
DB Financial Investment highlighted that "SK Hynix is smoothly supplying HBM3 (4th generation HBM) and HBM3E (5th generation HBM) 8-layer chips based on the strong AI server demand from global AI semiconductor and cloud service providers (CSPs)."
The firm further noted, "In addition to AI demand, inventory build-up demand is expected with the arrival of the seasonal peak in the second half of the year. Ongoing purchase demand from customers recognizing the bottom of the market conditions is being observed. A double-digit quarterly price increase for DRAM is expected in the second half of the year, and the upward trend in NAND prices is also anticipated to continue amid strong eSSD demand."
Additionally, DB Financial Investment stated, "SK Hynix's smooth supply of HBM3E 8-layer chips to major GPU manufacturers in the second half, combined with the company's competitive edge in HBM post-processing technology and quality stability, positions it to lead the market with significant HBM3E 12-layer supplies from 2025 onwards."
For the second-quarter performance, DB Financial Investment estimated SK Hynix's sales to be 16.8 trillion KRW and operating profit to be 5.8 trillion KRW, surpassing market expectations by 7% and 18%, respectively.
Alphabiz Kim Minyoung (kimmy@alphabiz.co.kr)
