CXMT jumps 535% on Shanghai listing debut; Nomura says it could climb another 1,239%

SKHY -2.36% MU +4.06% MORN +2.53%

1. 1Chinese memory chipmaker CXMT surged as much as 535% on its first day of trading on the Shanghai stock exchange, reaching 55.03 yuan and becoming China's largest listed company.
2. 2With an IPO offer price of 8.66 yuan, Nomura issued a buy rating and a target price of 116 yuan — implying 1,239% upside from the offer price — citing market share expansion as its rationale.
3. 3By contrast, a Morningstar analyst assigned a far lower fair value of 14.90 yuan, arguing that the lack of EUV lithography equipment leaves CXMT technologically behind, leaving the outlook sharply divided.

Source Bloomberg · View original ↗

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