SK Hynix's Recent Pullback Offers Buying Opportunity, Analyst Says

SK Hynix's recent pullback presents an attractive opportunity to increase exposure to the stock, according to Mirae Asset Securities analyst Young-gun Kim. According to Jin10, the current weakness appears to reflect an unusually sharp cooling of optimism surrounding second-quarter results and the ADR listing. Mirae Asset Securities lowered its second-quarter operating profit estimate for SK Hynix by 12% but maintained a buy rating and a target price of 4,200,000 won. The analyst noted that despite the share price pullback, spot prices for memory chips continue to strengthen, while growth in backlog orders is unlikely to slow meaningfully.