Bernstein believes that the valuation of Kaixia is too high, and there is a 50% downward potential for the stock price
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Bernstein analysts pointed out that the valuation of Kaixia is too high and it maintains a weaker than market rating. They believe that unless the long-term gross profit margin reaches 65% or the supply shortage continues until 2032, there is a 50% downward space for the stock price. Bernstein predicts that NAND flash prices will peak in 2027, gross profit margin will recover to around 30% by the end of 2028, and the target price for Kaixia will be raised from 17000 yen to 40000 yen. Kaixia closed up 1.35% today, at 96000 yen, continuing to set a new historical high, with a market value of 52.45 trillion yen and a cumulative increase of 820% since the beginning of the year.