SK Hynix shares rose 6.2% following bullish coverage initiations from Bank of America and Rosenblatt.
SK Hynix shares rose 6.2% on Tuesday after Bank of America and Rosenblatt initiated bullish coverage on the South Korean semiconductor manufacturer. Bank of America analyst Simon Woo issued a Buy rating with a $250 price target, citing the company's dominant market position in high-end memory and attractive AI-driven opportunities. Rosenblatt analyst Kevin Cassidy offered an even more optimistic $320 price target, noting that AI demand is making memory less commoditized while supply growth remains restricted by rising factory costs. The company recently made its U.S. debut on the Nasdaq, raising nearly $26.5 billion in its first-time listing. Despite a slight miss on fiscal 2026 second-quarter results, analysts remain confident in the company's long-term growth. Cantor Fitzgerald also joined the bullish sentiment, setting a $300 price target. The stock currently commands a market capitalization of $1.1 trillion and is positioned as a major beneficiary of the global AI infrastructure buildout, specifically through its high-bandwidth memory (HBM) products.