SK Hynix (SKHY) Stock Drops 5% the Same Day JPMorgan Says Buy It
TLDR
- SK Hynix stock fell 5.2% to $188.30 after a broad selloff in memory and high-beta tech stocks driven by rising oil prices and inflation fears.
- JPMorgan initiated coverage with an Overweight rating and a $245 price target on the same day as the drop.
- JPMorgan projects a 34% EPS compound annual growth rate over the next two years and a total shareholder return yield of nearly 42% from 2026 to 2028.
- The analyst consensus remains โBuyโ with an average price target of $247.67 across 14 analysts.
- SK Hynix reported quarterly EPS of $8.48 on revenue of $51.19 billion, with a debt-to-equity ratio of just 0.06.
SK Hynix (SKHY) dropped 5.2% on Thursday, falling to $188.30 from a prior close of $198.63, just shy of its 52-week high of $199.87. The move came as rising oil prices sparked inflation and interest rate fears, pulling memory chip stocks broadly lower alongside Micron and SanDisk.
The selloff hit on the same day JPMorgan initiated coverage with an Overweight rating and a $245 price target, set for June 2027. That initiation did little to stop the bleeding, as broader macro concerns took over.
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