Nomura Sets a Target Price of RMB 116 for CXMT, Corresponding to a Market Cap of RMB 7.76 Trillion

Odaily News On July 27, Nomura initiated coverage of CXMT (ChangXin Memory Technologies), setting a target price of RMB 116 per share, corresponding to a P/E ratio of 20x.

This valuation is double that of Micron, implying that CXMT's stock price will rise approximately 13.4 times from its IPO price, corresponding to a market cap of approximately RMB 7.76 trillion.