SK Hynix Jumps 12.7% on July 15 as Barclays Initiates Coverage with $330 Price Target

SK Hynix11.02%
SKHY26.29%
SKHYV-0.98%
According to Reuters, SK Hynix shares rose 12.7% in Seoul on July 15, driven by softer-than-expected US inflation data and overnight technology stock gains. Barclays initiated coverage of the South Korean memory chipmaker's US-listed American Depositary Receipts (ADRs) with an overweight rating and a $330 price target. SK Hynix's ADRs had surged 28% to $193.92 on Nasdaq the previous day.
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