Woofun AI reports that Aletheia Capital has elevated its price target for SK Hynix to 5.3 million Korean won, approximately $3,500. This valuation is grounded in a 10x 2027E FCF and 10x P/E multiple, suggesting a potential upside of roughly 125% from current levels.

The analyst highlights that surging demand for AI hardware memory is accelerating revenue and free cash flow growth. With DRAM average selling prices projected to climb through 2026-2027 and HBM emerging as a critical AI component, this new target substantially outpaces the broader market consensus of 2.6-2.7 million Korean won.