Wolfe Research reiterated its "Outperform" rating on SK Hynix, setting a price target of $250. Analyst Chris Caso cited strong demand for High Bandwidth Memory (HBM) driven by AI infrastructure as the primary catalyst, alongside rising HBM pricing, increased memory output, and a valuation of approximately 4.5x bull market earnings, which present potential upside. Wolfe Research also anticipates that SK Hynix could repurchase 28% of its shares through free cash flow within two years.