UBS said in a research report published on Aug. 3 that it lowered its target price for SK Hynix to 3 million won from 3.2 million won, while reiterating its Buy rating on the stock. The bank said its valuation is based on a forecast price-to-book ratio of 3.65x, slightly below its previous 3.67x assumption. UBS also lowered its long-term return on equity forecast for the company to 40.2% from 42.3%. The report kept the cost of equity at 11.5%. The note did not change UBS’s positive recommendation despite the lower target price. The update was cited by BlockBeats in a brief news item.
UBS lowered its target price for SK Hynix to 3 million won from 3.2 million won in a research report published on Aug. 3, while maintaining a Buy rating on the stock.
The valuation is based on a forecast price-to-book ratio of 3.65x, compared with 3.67x previously. UBS also put its long-term return on equity forecast at 40.2%, down from 42.3%, with the cost of equity set at 11.5%.
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