Wall Street Firms Issue Bullish Ratings for SK Hynix

Several Wall Street firms, including Bank of America, Stifel, Wolfe Research, and RBC Capital Markets, issued bullish ratings and initiated coverage of SK Hynix on August 4, 2026. Bank of America assigned a Buy rating with a price target of W3,000,000 for local shares and $250 for American Depositary Receipts (ADRs), while other firms set ADR targets between $200 and $240.

Analysts cite the company's leadership in high-bandwidth memory (HBM) for AI accelerators as the primary growth driver. SK Hynix is estimated to hold between 55% and 60% of the global HBM market and is the first manufacturer to achieve mass production of next-generation HBM4 technology. Bank of America expects the company to maintain over 40% market share in both HBM and QLC NAND-based enterprise SSDs through 2028.

These ratings follow record second-quarter results where SK Hynix reported quarterly sales of W79.3 trillion and an operating profit margin of 76%. Bank of America projects quarterly operating profits will exceed W90 trillion in the fourth quarter of 2026. This financial momentum helped SK Hynix ADRs rise 3.88% to $148.26 on Tuesday, recovering from a sharp sell-off on Monday caused by U.S. military action against Iran.