SK Hynix Looks Undervalued on Strong Demand Outlook

Dow Jones
Sep 09

0507 GMT - SK Hynix looks undervalued at 3.1X forecast 2027 P/E and 1.6X P/B, versus multiples of 5.9X and 3.0X, respectively, implied by Mirae Asset Securities analyst Young-gun Kim's target price. Continued strong demand for high-bandwidth memory chips and increasing adoption by AI chip makers should support customer diversification at SK Hynix. Mirae Asset projects DRAM memory prices to rise 15.8% on quarter in 3Q and 7.2% in 4Q, supporting earnings growth. The brokerage raises its target price on SK Hynix to 3,100,000 won from 2,800,000 won while maintaining a buy rating. Shares are up 4.2% at 1,868,000 won.

 

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