Wall Street Banks Rush to Cover SK Hynix ADRs — All Ratings Bullish
A wave of fresh sell-side coverage on SK Hynix's US-listed ADRs has landed squarely on the bullish side, with every bank that has initiated so far issuing a Buy or Overweight rating.
Bank of America stood behind the company in its debut note, pointing to steady order flow from US tech firms, SK Hynix's leading position in high-end memory chips, and continued investment in AI infrastructure as the underpinnings of a "supercycle" earnings outlook. The bank said the stock looks undervalued at current levels.
UBS Kicked Off the Round With a $204 Target
UBS analysts were the first to publish, releasing coverage on July 30 with a Buy rating and a $204 price target. They argued that memory supply shortages could stretch into 2028, and that the current valuation "does not yet fully reflect structurally higher memory profitability, enhanced free-cash-flow generation, and significantly expanded shareholder returns."
Rosenblatt's $320 Target Implies Roughly 124% Upside
Rosenblatt Securities has set the most aggressive target on the Street: $320 per ADR, implying roughly 124% upside from current prices.
Shares Down 37% From June Peak
The bullish convergence follows a sharp pullback in the stock. SK Hynix ADRs had fallen about 37% from their June high before the latest batch of reports. HSBC weighed in over the weekend, arguing that the market's implied earnings cycle had collapsed from roughly six years to 2.7 years, and that long-term trend earnings had dropped from about six times 2024 levels to about two times. The bank called the pricing excessively pessimistic.
That coordinated turn from Wall Street now echoes HSBC's conclusion, reinforcing expectations of a valuation recovery across Korean memory-chip names.