According to Citi, the brokerage upgraded SK Hynix (000660.KS) target price to 3.1 million won from 1.7 million won on May 12, citing strong memory pricing trends and better-than-expected HBM (high bandwidth memory) growth in the second half of 2026. Citi expects SK Hynix to benefit from a 30% quarter-on-quarter increase in HBM pricing in Q4 2026, supported by robust DRAM pricing driven by recent AI developments. The brokerage maintained its buy rating on the stock.
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