BlockBeats News, July 14th - Morningstar analyst Jing Jie Yu stated that the bank maintains the fair value estimate of SK Hynix's ADR at $160 per share. After assessing long-term cyclical risks, it is believed that the valuation is at a reasonable level. SK Hynix plans to use the 40 trillion Korean won raised in this IPO for future semiconductor fab investments. However, the main purpose of this IPO is to enhance valuation rather than address urgent financing needs. The valuation multiple of Korean memory chip companies has long been lower than their U.S. counterparts, and SK Hynix's existing cash is expected to be sufficient to meet investment needs.

Morningstar projects that SK Hynix's EBITDA for 2026 and 2027 will reach 317 trillion won and 474 trillion won, respectively, well above the fundraising scale. Morningstar believes the profit trend of memory chip manufacturers is highly unpredictable, and SK Hynix's ADR and listed stocks in Korea may continue to experience significant volatility, thus maintaining a "very high uncertainty" rating for the company.