Kioxia's stock price soared after institutions raised their target price due to the recovery of Nand
Kioxia's stock price surged 14% at one point, reaching an intraday high. Morgan Stanley Mitsubishi UFJ Financial Group raised the target price for the Japanese semiconductor company from 2,900 yen to 3,900 yen, citing improvements in the NAND market and reaffirming its overweight rating, stating that "conditions have improved" due to investments in artificial intelligence and a shortage of hard drives. The institution also raised its forecast for the company's fiscal year ending March 2027, "reflecting the expansion of eSSD demand and improvements in overall market supply and demand."
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