Citigroup raises SK Hynix target price to KRW 3.1 million

The Citigroup report states that SK Hynix will benefit from an increase in the average selling price of bulk memory and better than expected price growth of high bandwidth memory (HBM) in the second half of 2026. It is expected that HBM pricing will increase by 30% in the fourth quarter of 2026 and benefit from Anthropic's update to push up the upper limit of keywords. Citigroup has raised its SK Hynix target price from KRW 1.7 million to KRW 3.1 million, maintaining a 'buy' rating.