Cantor Fitzgerald Starts SK Hynix at Overweight With $300 Target as AI Memory Demand Outruns Supply
Updated
Updated · Barchart · Aug 5
Cantor Fitzgerald Starts SK Hynix at Overweight With $300 Target as AI Memory Demand Outruns Supply
3 articles · Updated · Barchart · Aug 5
Summary
Cantor Fitzgerald initiated coverage of SK Hynix with an Overweight rating and a Street-high $300 price target, implying about 96% upside from current levels.
The firm said generative, agentic and eventually physical AI should keep DRAM and NAND demand ahead of supply through at least 2029, supporting higher memory prices and richer margins.
SK Hynix listed its ADRs on Nasdaq on July 10 at $149, raising nearly $26.5 billion in the largest first-time U.S. listing by a foreign company; the shares have since traded between $124.80 and $194.80.
The bullish call came despite a late-July earnings miss: Q2 revenue rose 257% year over year to 79.32 trillion won and operating profit jumped 557% to 60.54 trillion won, both below analyst forecasts.
Wall Street still broadly backs the AI-memory thesis, with 11 of 15 analysts rating SK Hynix Strong Buy and the average target at $243.