Korean Analyst: SK Hynix Pullback Could Provide Buying Opportunity

BlockBeats News, July 16th - Analyst Young-gun Kim from Future Asset Securities in South Korea stated in a report that the recent pullback of SK Hynix has provided a highly attractive opportunity to increase exposure to the stock.

The analyst mentioned that the current weakness seems to reflect an unusually sharp cooldown of the optimism surrounding the second-quarter earnings and the ADR listing. Future Asset Securities has revised down its second-quarter operating profit forecast by 12% but maintains its buy rating and a target price of 4,200,000 Korean won.

The analyst noted that despite the stock's pullback, spot prices for storage chips continue to strengthen, and the growth of reserve orders is unlikely to see a significant slowdown.