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<Research>M Stanley Raises SK Hynix TP to KRW2.6M, Lifts EPS Forecasts
Recommend 17 Positive 19 Negative 8 |
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Memory has become a critical bottleneck in AI infrastructure, Morgan Stanley said said in its report. Long-term agreements (LTA) inked by customers to secure supply are transforming a traditionally cyclical business into one with secured, high-margin and long-term revenue streams. Assuming HBM has been 100% covered by LTAs and commodity memory LTA coverage ranges from 50% to 80%, the LTA-covered portion would be valued at 6-12x PE, while the non-LTA portion would be valued at 5x PE, based on the broker's estimate. Morgan Stanley raised its EPS forecasts for SK Hynix for 2026-28 by 6%, 3% and 14%, respectively, and lifted its TP from KRW1.7 million to KRW2.6 million. Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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