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KB Securities: Raises SK Hynix target price to 3 million KRW, $1 trillion market cap to be a strong support line

KB Securities: Raises SK Hynix target price to 3 million KRW, $1 trillion market cap to be a strong support line

格隆汇格隆汇2026/05/15 15:00
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Glonghui, May 15 — KB Securities published a report today, raising the target price of SK hynix from 2.8 million KRW to 3 million KRW and reaffirming its “Buy” rating, mainly due to expectations that DRAM and NAND prices in the second quarter will surpass previous forecasts. KB Securities now forecasts that by 2026, DRAM prices will increase by 194% year-on-year and NAND prices by 244% year-on-year. Reflecting these projections, the firm has raised its operating profit forecasts for SK hynix for this year and next year to 277 trillion KRW (ranking 4th in the global semiconductor industry) and 428 trillion KRW, respectively—10.2% and 25.1% higher than market consensus. The operating profit margin in 2026 is expected to reach 78.1%, the highest in the world. Kim Dong-won, head of KB Securities’ research division, stated that memory semiconductors will become a scarce strategic asset that determines the overall performance of AI systems. The market capitalization of SK hynix, expected to reach 1 trillion USD (equivalent to 2.1 million KRW per share), will likely serve as a strong support line in the future.According to KB Securities data, SK hynix’s operating profit for the second quarter of this year is estimated at 70 trillion KRW, 13.4% above market expectations, representing a 660.4% year-on-year increase and an 86.3% quarter-on-quarter growth. The operating profit margin is expected to be 79.2%. The firm noted that since full-scale operation of new memory production lines is expected after 2027, supply constraints will persist. Kim stated, “The memory industry is entering an era of virtually zero supply,” and, considering major clients’ demand forecasts for 2027, memory supply next year will be even tighter than this year.
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