Nomura Securities, a Japanese investment bank, proposed a target stock price of 116 yuan for Changsin Memory (CXMT), which was newly listed on the Chinese stock market on the 27th. The offering price is 1239.5% higher than the offering price of 8.66 yuan.

On this day, Nomura said, “We will start coverage of CXMT, China’s largest DRAM manufacturer, with an investment opinion of ‘buy’ and target of 116 yuan. As the global memory supply shortage is expected to ease in the next few years, CXMT’s market share expansion will accelerate further.”

The target price of 116 yuan was calculated by applying CXMT’s expected EPS of…