Goldman Sachs Reaffirms Buy Rating for SK Hynix, Citing HBM Pricing Upside

Goldman Sachs issued a report on September 22, 2026, maintaining a buy rating for SK Hynix with a 12-month target price of 3,500,000 KRW, representing an 87.4% upside from the current price. The firm expects continued supply tightness in high-bandwidth memory (HBM) and DRAM, with HBM pricing and profit margins projected to rise through 2027. Long-term agreements (LTA) are expected to provide demand visibility and stabilize revenue. Key factors include limited cleanroom space, a focus on technical migration to 1c nanometer nodes, and potential updates to shareholder returns in Q3 2026.