(Bloomberg) — Shares in South Korea’s SK Hynix Inc., a key supplier to Nvidia Corp., have jumped more than 90% over the past year and Wall Street is predicting further gains.
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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.
Goldman Sachs Group Inc. upgraded its stock-price target to 290,000 won ($210) on Tuesday, implying a potential gain of 25% from that day’s close. Citigroup Inc. last week raised its prediction to 350,000 won, more than 50% higher than the current share price.
“The current share valuation isn’t fully reflecting the potential of high-bandwidth memory chips,” said Roh…
