Boosted by a 27% surge in American depositary receipts overnight,
SK HynixThe biggest intraday gain on the Korean exchange was 12%.
Barclays covered SK Hynix's rating range over its American Depositary Receipts (ADRs) with an initial rating of "Overweight" and a price target of $330.
According to estimates, the target price has 70% upside from Tuesday's closing price.
A team of analysts led by Simon Coles said in the research report: "We expect that the supply and demand tension of the memory chip industry will further intensify in 2027, and there will be limited room for improvement of the supply and demand pattern in 2028."
Analysts added that deploying front-end wafer manufacturing operations in the United States is expected to narrow its relationship withMicronThe valuation gap between.
SK Hynix, listed in South Korea, has increased by 221% this year.
The benchmark Korea Composite Index rose by 7.3% in the session,Samsung ElectronicsUp 8%.
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