Goldman Sachs raises Kioxia Holdings target price to 116000 yen, optimistic about profit growth in the NAND market

Goldman Sachs has raised its 12-month target price for Kioxia Holdings to 116000 yen and maintained a buy rating. Goldman Sachs predicts that Kioxia Holdings' FY3/27 first quarter operating profit, announced on July 31, may reach 1.417 trillion yen, higher than the company's guidance of 1.298 trillion yen and Bloomberg's consistent expectation of 1.36 trillion yen. Goldman Sachs believes that the tight supply and demand driven by AI will push up the peak of the NAND market cycle, and Kioxia Holdings has growth potential in the data center product field.