Wolfe Research raised its price target on SK hynix to $250 from $200, maintaining an Outperform rating. The firm cited a 20-30% rise in DRAM and NAND spot prices over the last three months and expects demand to outpace supply through at least 2028. Wolfe anticipates the memory maker could generate enough free cash flow in 2026 and 2027 to repurchase shares worth about 32% of its market value.
Despite the bullish analyst report, SK hynix shares retreated in pre-market trading, falling alongside other memory and technology stocks. The negative market reaction was attributed to broader macroeconomic concerns, including a rise in the 10-year Treasury yield to its highest level since 2007 and increasing oil prices, which have put pressure on growth stocks.