SK Hynix Could Post Lower-than-Expected but Still Record 3Q Operating Profit
Dow Jones
Sep 29
SK Hynix could post lower-than-expected but still record 3Q operating profit, according to DS Investment & Securities analyst Lee Su-rim. The analyst now estimates the South Korean chip maker's profit at about 70 trillion won for the July-September period, down from her earlier forecast of about 78 trillion won, largely because the won's strength likely weighed on earnings. Still, the revised 3Q profit estimate would top the record of around 60 trillion won set in 2Q.
Lee expects the company's further shareholder returns and a likely earnings rebound in the coming quarters to serve as catalysts for its share price. DS lowers its target price for the stock to 2,640,000 won from 3,100,000 won but keeps a buy rating. Shares closed 0.2% lower at 1,765,000 won.
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