S&P Global Ratings raised SK Hynix’s credit rating from BBB+ to A-, citing strong AI-driven business performance, with a positive outlook for further gains. The upgrade follows the company’s capital return plan, which has already pushed SK Hynix stock up 11.3% over the past three weeks.
Second-quarter results support the optimism. Revenue hit 79.32 trillion won, up 257% year-over-year, with a 76% operating margin, driven by strong demand for HBM chips and enterprise SSDs.
Analysts are turning bullish too. Wolfe Research and RBC Capital Markets began coverage Monday with price targets of $200-$240 per ADR, citing HBM4 pricing tailwinds. Stifel started with a Buy rating and $240 target, while William Blair projects free cash flow could more than double by 2028.
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