SK Hynix Sees 12% Q2 Profit Forecast Cut; Analyst Maintains Buy with 4.2M KRW Target on July 16

SK Hynix-11.28%
SKHY-8.93%
SKHYV-0.98%

According to BlockBeats, analyst Young-gun Kim from South Korea's Mirae Asset Securities said on July 16 that SK Hynix's recent pullback offers an attractive opportunity to increase exposure to the stock. The analyst attributed the weakness to a sharp decline in optimism around second-quarter earnings and ADR listing plans.

Mirae Asset Securities cut its Q2 operating profit forecast by 12% but maintained its buy rating and 4.2 million KRW price target unchanged.

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