Bank of America upgraded SK Hynix to Buy with a $250 price target, pointing to accelerating AI-driven memory demand and the company's strong HBM positioning. The upgrade lands as the stock trades near its 52-week high of $194.80.
The bullish case also leans on SK Hynix's shareholder-return plan, which includes roughly 40 trillion won in buybacks and cancellations approved back in August. Management also raised its target to return more than 50% of cumulative free cash flow from 2025-2027. On top of that, Kioxia passing on deeper manufacturing cooperation removes a potential antitrust overhang, while the sharp rise in NAND prices suggests memory supply is getting tighter.
The stock's push higher came even as the broader market struggled, with the S&P 500, Nasdaq and Dow all lower on geopolitical concerns tied to Saudi Arabia's energy infrastructure.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
