Nomura Securities gives Envision Technology a target price of 116 yuan, corresponding to a market value of RMB 7.76 trillion.

BlockBeats News, July 27th, Nomura Securities initiated coverage of ChangXin Memory Technologies (CXMT), giving it a target price of 116 RMB, equivalent to a 20x price-to-earnings ratio, which is twice the valuation of Micron.

This implies a 13.4x increase from the IPO price, with a market capitalization of approximately 7.76 trillion RMB.