Hanwha Investment & Securities analyzed on the 27th that expectations for performance growth next year regarding SK hynix could be reflected in the stock price. The target price has been raised from the previous 290,000 won to 360,000 won, and the investment opinion remains "buy."
Kim Kwang-jae, a researcher at Hanwha Investment & Securities, noted, "Despite the negative foreign exchange effect due to the depreciation of the won against the U.S. dollar, we expect excellent performance that meets the market's high expectations," adding, "The full-scale expansion of HBM3E 12-layer sales is key."
Hanwha Investment & Securities estimated SK hynix's second-quarter revenue to be 20.8 trillion won, a 18% increase compared to the previous quarter, while operating profit is expected to rise by 23% to 9 trillion won. It projected that the operating profit in the second half would grow to 21.4 trillion won.
Kim explained, "The ongoing mix improvement effect due to the additional expansion of HBM3E 12-layer sales will continue, and while the exposure is relatively low compared to competitors, the strong prices of conventional DRAM will also positively impact. It is a time when expectations for the HBM market next year could be reflected in the stock price."
He added, "Next year's HBM market may face intensified competition compared to this year, when the company's dominance was maintained, due to the growing influence of latecomers. However, it is important to emphasize that market growth remains sufficiently steep, and the leading company's leadership should continue to be maintained."