On July 6, UBS released a research report indicating that due to the ongoing tight supply and demand in the memory market, it has raised its price forecasts for DRAM and NAND for the tenth consecutive month. The price forecast for the quarter ending in September has been adjusted from a quarter-on-quarter increase of 16% to 32%, while the forecast for the quarter ending in December has been raised from a 10% increase to 12%. Consequently, UBS has revised Kioxia Holdings' operating profit forecast for the fiscal year 2027 from 7.71 trillion yen to 9.18 trillion yen, and for fiscal year 2028 from 10.9 trillion yen to 12.9 trillion yen. UBS noted that whether Kioxia can secure a five-year contract has become a market focus, and it is expected that future market attention will shift to the progress of negotiations for long-term agreements. Given the extremely tight supply and demand situation, UBS believes the outlook is positive and has raised the target price from 132,000 yen to 144,000 yen, maintaining a 'Buy' rating.
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UBS Raises DRAM and NAND Price Forecasts for the Tenth Consecutive Month, Kioxia Target Price Increased to 144,000 Yen
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