Barclays Initiates SK Hynix ADR Coverage with $330 Price Target, Doubling Current Level

SKHY26.29%
According to Barclays analyst Simon Coles as reported by CNBC on July 14, Barclays initiated coverage of SK Hynix American Depositary Receipts (ADRs) with a price target of $330, roughly double the prior day's opening price of $165.50. Coles cited sustained memory chip shortages across the technology sector as a key driver for the stock's upside, noting that resulting price increases should boost revenues. Additionally, Barclays identified SK Hynix's strong balance sheet and potential for substantial share buybacks as upside factors, estimating the company will hold cash reserves exceeding 40% of its current market capitalization by end of 2027.
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