Goldman Sachs Group Inc. upgraded its stock-price target to 290,000 won ($283.59) on Tuesday, implying a potential gain of 25% from that day’s close. Citigroup Inc. last week raised its prediction to 350,000 won, about 50% higher than the current share price.
Shares in South Korea’s SK Hynix Inc., a key supplier to Nvidia Corp., have jumped more than 100% over the past year and Wall Street is predicting further gains.
No fewer than 19 analysts have upgraded their forecasts over the past month for the firm, the largest supplier of high-bandwidth memory chips to Nvidia’s artificial-intelligence products. Reasons they give include the sky-high potential for AI, and the prospect of a positive surprise in this month’s earnings.
