Institutions: Bullish on SK Hynix upside potential, expect two-year buyback program to reach 28% of outstanding shares

On Oct. 28, Wolfe Research reiterated an Outperform rating on SK Hynix and set a $250 price target, citing strong demand for high bandwidth memory (HBM) from AI infrastructure. Analyst Chris Koso noted that rising HBM prices, increased memory production, and an attractive current valuation could all provide upside potential for the stock. Currently, the stock trades at approximately 4.5 times expected earnings under an optimistic scenario. Wolfe Research also estimated that if SK Hynix implements its planned shareholder return policy, the free cash flow generated over the next two years could be sufficient to repurchase shares equivalent to 28% of its total outstanding shares. (Jin10)