Citigroup Lifts Kioxia Target 44% to ¥63,843 After Chip Profit Surge
Citigroup Global Markets Japan raised its Kioxia price target by 44% to ¥63,843 after the chip maker’s profit surged on AI-driven demand and free cash flow potential. China’s April data showed fixed-asset investment down 1.6% y/y and retail sales up 0.2%, the weakest growth since late 2022, sparking stimulus talks.
1. China Posts Weakest April Growth
April’s fixed-asset investment fell 1.6% year-over-year in the first four months of 2026, while industrial production grew just 4.1% and retail sales rose 0.2%, the weakest consumer reading since December 2022. These results reignite pressure on policymakers to consider fiscal or monetary stimulus when the Politburo meets in July.
2. Citigroup Raises Kioxia Target
Citigroup Global Markets Japan increased its price target on Kioxia to ¥63,843, up roughly 44%, after the memory-chip maker reported strong profit growth driven by AI data center demand. The firm's analysts cited Kioxia’s robust free cash flow and leading NAND position as key drivers of its optimistic outlook.