On August 4, SK hynix rose 4.82% in regular trading, reaching $150.33 per share, with turnover of $9.71 billion. The rally was fueled by a confluence of bullish catalysts including multiple Wall Street initiations at Buy, a landmark technology standard release, and a credit rating upgrade.
On the news front, several investment banks simultaneously initiated coverage on SK hynix with Buy ratings: Rosenblatt Securities set a target price of $320, Bank of America at $250, Stifel at $240, RBC Capital Markets at $200 with an Outperform rating, and Needham at $200. The average analyst target stands at $228.39 per FactSet data, signaling substantial upside consensus.
Additionally, SK hynix and SanDisk jointly released the industry's first High Bandwidth Flash standard specification, with Google and Tenstorrent joining the alliance. HBF occupies a new storage tier between HBM and SSDs, supporting up to 512GB capacity and 0.4-3.0TB/s bandwidth via UCIe open interconnect standards. Moody's also upgraded SK hynix's credit rating to A3 with a stable outlook, marking its first entry into the A-grade tier, reflecting strengthened AI storage market competitiveness.
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