Nomura Securities sets a target price of 116 yuan for CXMT, corresponding to a market value of 7.76 trillion yuan

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

This valuation is twice that of Micron, implying that CXMT's stock price has risen approximately 13.4 times from its IPO price, corresponding to a market value of about 7.76 trillion RMB.