Kiwoong Securities Raises Tes Target Price 303% to 250,000 Won on Memory Capex Acceleration

According to Kiwoong Securities, the brokerage raised semiconductor equipment maker Tes' target price to 250,000 Korean won on July 20, up 303% from the previous target of 62,000 won. The stock was trading at 194,300 won as of the previous close. Analyst Park Yu-ak attributed the upgrade to accelerating memory equipment investment from Samsung Electronics and SK Hynix. Kiwoong also raised Woonik IPS' target price to 180,000 won from 160,000 won, citing strong equipment demand.
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