Hana Securities announced on June 5 that it has raised its target price for PSK to 160,000 won, citing expectations for increased semiconductor investments and improved profitability. The firm maintained its investment rating at "buy."
In a report released on the same day, analyst Kim Rok-ho stated, "Investment from memory and foundry companies is expected to ramp up significantly in 2027 compared to this year. In 2027, new fabs from three major domestic and international memory companies are set to open, and Changxin Memory Technologies (CXMT) is likely to pursue aggressive expansion based on public funding."
He added, "With new factory investments planned by Samsung Electronics and Intel in the foundry sector, equipment investments are expected to be robust in 2027 and 2028. Over the next three years, we anticipate strong growth visibility, and we continue to favor PSK alongside Tes and VM as our top picks in the front-end equipment sector."
Kim also noted, "Investments from Chinese companies are estimated to exceed initial expectations. Sales to U.S. clients have remained steady, and we expect the proportion of sales by client to remain similar to the first quarter."
Furthermore, he predicted that Chinese memory firms would show a strong willingness to expand in the second half of the year following the confirmation of their listing dates. He emphasized that overseas clients often have higher average selling prices, which could contribute positively to profit margins.
* This article has been translated by AI.
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