SK hynix Upgraded to 'Moderate Buy' Amid Analyst Optimism

SK hynix, a South Korean semiconductor company, has received an upgrade from Royal Bank Of Canada to a 'moderate buy' rating. This follows recent positive sentiment among analysts who have initiated coverage with buy-equivalent ratings.

The upgrade comes after SK hynix reported $8.76 earnings per share for the quarter, beating estimates of $5.12. Revenue was $52.83 billion, compared to analyst estimates of $59.05 billion.

Several analysts have issued price targets, ranging from $200 to $320. Rosenblatt Securities began coverage with a 'buy' rating and a $320 target, while Wedbush initiated coverage with an 'outperform' rating and a KRW2.56 million price target.