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Major Bank Ratings | Nomura: Raises SK Hynix's target price to 2.34 million Korean won, expects Q2 overall DRAM prices to increase by 208% year-on-year

Major Bank Ratings | Nomura: Raises SK Hynix's target price to 2.34 million Korean won, expects Q2 overall DRAM prices to increase by 208% year-on-year

格隆汇格隆汇2026/04/24 02:34
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Glonghui, April 24|Nomura issued a report maintaining SK Hynix's "Buy" rating and raising the target price from 1.93 million won to 2.34 million won. The bank raised its 2026 and 2027 estimated operating profits by 9% and 4% respectively, reflecting a better-than-expected earnings outlook. The report indicates that memory manufacturers are negotiating Long-Term Agreements (LTAs) with major clients, including favorable terms on shipment volume, pricing, and prepayments. If such contracts are successfully signed and become a new business model for the memory industry, the bank believes memory manufacturers' high profitability will continue in the medium to long term, thus lowering their current risk premium, which is much higher than other tech companies, and supporting a further stock price revaluation. Nomura expects SK Hynix's overall DRAM prices to increase year-on-year by 118%, 208%, 212%, and 156% from Q1 to Q4 this year, with per GB prices at USD 9.3, USD 13.4, USD 14.2, and USD 14.5, respectively.
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