UBS: Raises DRAM and NAND price forecasts for the tenth consecutive month, Kioxia target price raised to 144k yen.

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Golden Finance reported that on July 6, UBS issued a research report stating that due to continued tight supply and demand in memory, it has raised price forecasts for DRAM and NAND for the tenth consecutive month. The price forecast for the quarter ending September was raised from a 16% quarter-on-quarter increase to 32%, and the forecast for the quarter ending December was raised from 10% to 12%. Correspondingly, the operating profit forecast for Kioxia Holdings for fiscal year 2027 was raised 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 pointed out that whether Kioxia can lock in five-year contracts has become the market focus, and it expects the market's attention will shift to the progress of long-term agreement negotiations. Considering the very tight supply and demand situation, it believes the news is positive, raising the target price from 132k yen to 144k yen, and maintaining a "buy" rating.
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