Meritz Securities has raised its target price for SK hynix after the Korean memory maker reported third-quarter profit above expectations, driven by a rebound tied to high-bandwidth memory (HBM) demand.

The upgrade, reported by Chosunbiz, positions SK hynix as the clearest near-term beneficiary among Korea's semiconductor makers of the AI-related shift in the memory market toward HBM chips used in AI accelerators.

What does the profit beat signal?

SK hynix's third-quarter results came in ahead of consensus, according to the report. The beat follows a prolonged downturn in the memory industry, during which NAND and DRAM prices collapsed and producers across Korea cut output to defend margins.

The recovery Meritz cites is not a broad-based memory rebound but an HBM-driven one. High-bandwidth memory commands premium pricing because it is qualified for use alongside AI processors, and SK hynix has secured a leading position in that segment relative to its Korean and overseas competitors.

That dynamic explains why a brokerage would move its target price on a single quarter's results: HBM shipments carry materially better margins than standard DRAM, so even a partial mix shift can move the profit outlook faster than the wider memory cycle would suggest.

Why does the target change matter for the market?

Target price revisions from major domestic brokerages function as a read on how local analysts price the gap between SK hynix and Samsung Electronics in the AI memory race. A raise for SK hynix specifically, rather than across the Korean chip sector, signals Meritz sees the HBM advantage as company-specific rather than cyclical.

For investors, the action item is straightforward:

• Meritz raised its SK hynix target price following the Q3 beat.
• The driver cited is the HBM-led rebound in Korea's memory segment.
• The upgrade implies continued confidence in HBM pricing power heading into the next quarters.

The report does not state the new target price or the specific profit figures, and those details were not disclosed in the summary carried by Chosunbiz.

What comes next?

Analyst attention now shifts to whether SK hynix can convert its HBM position into sustained earnings growth through 2025, or whether competitors' HBM ramps compress the pricing premium that drove the third-quarter beat. Further target revisions from other Korean brokerages are likely as full quarterly disclosures land.