Six brokerages launched coverage of SK Hynix with bullish ratings, citing AI-driven demand for its high-bandwidth memory chips.
Shares of SK Hynix rose 5% to $150.08 after six brokerages initiated coverage with buy-equivalent ratings, highlighting the company’s leadership in the AI memory market. The stock remains 16% below its July 10 listing price due to a broader semiconductor pullback.
SK Hynix raised $26.5 billion in its U.S. secondary listing, priced at $149 per ADR, driven by strong investor demand for AI-focused high-bandwidth memory (HBM) chips. Analysts noted the U.S. listing could help re-rate the stock closer to U.S. rival Micron.
Brokerages, including BofA Global Research and Rosenblatt Securities, set price targets, with Rosenblatt’s target at $320. The company’s ties to AI and data center markets were cited as key growth drivers.