CLSA Starts CXMT at Outperform With 84.70 Yuan Target as DRAM Share Seen at 14%
Updated
Updated · CNBC · Oct 11
CLSA Starts CXMT at Outperform With 84.70 Yuan Target as DRAM Share Seen at 14%
2 articles · Updated · CNBC · Oct 11
Summary
84.70 yuan is CLSA's new price target for CXMT, implying more than 60% upside from Friday's close as it initiated coverage with an outperform rating.
CLSA tied that call to rising memory prices and tighter global supply, forecasting CXMT's bit-shipment market share will climb to 14% next year from 12% in 2026 and 9% last year.
Overseas demand is central to the thesis: CLSA said CXMT can expand beyond China, echoing Bernstein's view that foreign OEMs may use its DRAM in products sold outside the U.S.
Investor focus now turns to Oct. 31 earnings, with BNP Paribas expecting September-quarter revenue to rise 22% sequentially, though it keeps a neutral rating and a lower 48.70 yuan target.