Barclays sets a target price of $330 for SK hynix, and the stock price has risen significantly.

Boosted by a 27% surge in overnight American Depositary Receipts, SK Hynix saw its largest intraday increase on the South Korean exchange at 12%. Barclays has initiated coverage of SK Hynix's ADRs, giving it a "hold" rating with a target price of $330. According to calculations, this target price represents a 70% increase from Tuesday's closing price. Analyst team led by Simon Coles stated in their research report, "We expect the tight supply and demand situation in the storage chip industry to further intensify in 2027, with limited improvement in supply and demand dynamics in 2028." The analysts added that by expanding their presence in front-end wafer manufacturing in the US, SK Hynix is likely to narrow the valuation gap with Micron. SK Hynix, listed in South Korea, has seen a cumulative increase of 221% so far this year. The benchmark KOSPI index saw its largest intraday increase of 7.3%, with Samsung Electronics rising 8%.