Goldman Sachs raises target prices for SK Hynix, Samsung Electronics, and Armor Hero
According to a report by Goldman Sachs, on June 1st, Goldman Sachs significantly raised the target prices of SK Hynix, Samsung Electronics, and Kaixia. SK Hynix's target price has risen to 3.3 million to 3.5 million Korean won (approximately 3.3 million to 3.5 million Korean won), Samsung Electronics' target price has been raised to 480000 Korean won, and Kaixia's rating has been upgraded to "buy". The 12-month target price is 93000 Japanese yen. Goldman Sachs believes that the valuation framework for the storage industry will shift from price to book ratio to price to earnings ratio. It is expected that the shortage of DRAM, NAND, and HBM supply will continue until 2028, with the HBM market size revised up by 54% to $116 billion in 2027. Goldman Sachs warns that the new valuation framework needs balance sheet support, otherwise it may repeat the mistakes of 2017.