Mirae Asset Cuts SK Hynix Price Target 33% to 2.8M Won on July 29, Maintains Buy

According to Mirae Asset Securities on July 29, the brokerage cut SK Hynix' price target from 4.2 million Korean won to 2.8 million won (down 33.3%), citing NAND flash price weakness and broader semiconductor sector headwinds. Despite the sharp downgrade, the firm maintained its 'buy' rating, noting that recent share declines have been excessive relative to the company's fundamentals. Analyst Kim Young-gun emphasized that the cut reflects industrywide valuation compression rather than deterioration in SK Hynix' core memory demand, which remains resilient from AI infrastructure investment. Separately, Mirae Asset cut Samsung Electronics' price target from 550,000 won to 370,000 won (down 32.7%), also maintaining 'buy,' as the stock decline has pushed forward dividend yield to an attractive 5.3%.
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