"Samsung Electronics to 340,000 won, SK hynix to 1.7 million won"... Global IB issues record-high targets

[The Financial News] As the KOSPI surpassed the 6,000 level for the first time ever on the 25th, global investment bank Macquarie Group Limited sharply raised its target prices for Samsung Electronics Co., Ltd. and SK hynix Inc. to 340,000 won and 1.7 million won, respectively.

Macquarie Group Limited stated in a report on the 25th, "We are shifting from a previously neutral stance to a strongly positive view as the memory supply shortage deepens." This upward revision comes roughly one month after it had set target prices of 240,000 won for Samsung Electronics Co., Ltd. and 1.12 million won for SK hynix Inc. early last month.
The report went on to say, "Prices for standard Dynamic Random Access Memory (DRAM) and NAND flash memory are expected to double in the first quarter of 2026," projecting that the momentum for memory semiconductor price increases will continue throughout the year.
Samsung Electronics Co., Ltd. is expected to be the biggest beneficiary of the current memory upcycle through its P4 complex and the P5 fabrication plant at Samsung Electronics' Pyeongtaek Campus.
Regarding Samsung Electronics Co., Ltd., Macquarie Group Limited assessed, "The company appears to be carefully allocating shipment volumes, taking into account clients’ inventory levels and its role within the broader technology ecosystem," adding, "Over the next three years, Samsung Electronics Co., Ltd. is likely to be the only company capable of ramping up new plants smoothly."
SK hynix Inc. is projected to maximize its earnings leverage, backed by its leadership in the global High Bandwidth Memory (HBM) market.
Macquarie Group Limited forecast that AI chip companies will have to pay more than 30% higher prices for HBM supply in 2027, and predicted that SK hynix Inc. has a strong chance of becoming the first Asian company to surpass 100 billion dollars in net profit.
Macquarie Group Limited raised its Earnings Per Share (EPS) estimates for Samsung Electronics Co., Ltd. by 73% for this year and 82% for next year, and also lifted SK hynix Inc.’s EPS forecasts by 58% for this year and 77% for next year. As a result, the expected price-earnings ratio (PER) for Samsung Electronics Co., Ltd. has fallen to 5.8 times for this year and 3.7 times for next year, while SK hynix Inc.’s PER has declined to 3.6 times and 2.2 times, respectively.
Both stocks are currently included in Macquarie Securities’ top pick Marquee Buy List.

Previously, Macquarie Securities wrote in a report late last year that Samsung Electronics Co., Ltd. and SK hynix Inc. would drive gains in the KOSPI in 2026, and set a KOSPI target level of 6,000.
Meanwhile, on the 25th the KOSPI closed at 6,083.86, up 114.22 points (1.91%) from the previous session. Samsung Electronics Co., Ltd. ended the day at 204,000 won, up 4,000 won (2%) from the day before, while SK hynix Inc. finished at 1.02 million won, up 15,000 won (1.49%).

sms@fnnews.com Seong Min-seo Reporter