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2026-07-15 08:42:11
[Barclays strongly supports SK Hynix: ADR target price up 70%, supply and demand tensions ignite market] (1) Boosted by the overnight surge of 27% in American Depositary Receipts (ADRs), SK Hynix surged as much as 12% on the Korean Stock Exchange. Barclays immediately included its ADRs in its rating range with an initial rating of "overweight" and a target price of $330, representing an upside of about 70% from Tuesday's closing price. (2) An analysis team led by Simon Coles pointed out in a research report that the supply and demand tensions in the memory chip industry are expected to intensify in 2027, with limited room for improvement in 2028; at the same time, SK Hynix's layout of front-end wafer manufacturing business in the United States is expected to help it narrow the valuation gap with Micron. (3) Stimulated by the news, SK Hynix, listed in South Korea, has accumulated a gain of 221% this year. The benchmark Korea Composite Stock Price Index (Kospi) rose as much as 7.3% during the day, and Samsung Electronics also rose by 8%, indicating that the overall market sentiment was strongly driven.
