External broker reports(aggregated public sources), Mirae Asset Securities

Mirae Asset Securities

Mirae Asset Securities Co.,Ltd. provides comprehensive wealth management services. The Company offers fixed income securities brokerage, securities dealing, equity underwriting, and other services. Mirae Asset Securities also deals with mergers and acquisitions, foreign currency, and financial derivatives.

External broker reports(aggregated public sources)

Mirae Asset Securities Co.,Ltd. provides comprehensive wealth management services. The Company offers fixed income securities brokerage, securities dealing, equity underwriting, and other services. Mirae Asset Securities also deals with mergers and acquisitions, foreign currency, and financial derivatives

Equity Bottom-Up

<ul><li>We maintain our Buy rating and target price of W1,540,000 on SK Hynix.</li><li>In deriving our target price, we applied the average 2026F P/B of global pure memory peers (Micron, Kioxia, and Nanya) to our 2026F BPS of W447,080.</li><li>Despite recent macro uncertainty and memory spot price declines, we believe the company’s high earnings visibility provides a reasonable basis for maintaining an overweight view.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

We maintain our Buy rating and target price of W1,540,000 on SK Hynix.In deriving our target price, we applied the average 2026F P/B of global pure memory peers (Micron, Kioxia, and Nanya) to our 2026F BPS of W447,080.Despite recent macro uncertainty and memory spot price declines, we believe the company’s high earnings visibility provides a reasonable basis for maintaining an overweight view.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

SK Hynix (000660 KS/Buy)From Rapid Growth to Sustained High Profitability