6 January 2026 | 5:01PM JST Equity Research Kioxia Holdings (285A.T) NAND price uptrend continues, but further share price upside limited; maintain Neutral 285A.T 12m Price Target: ¥11,400 Price: ¥11,600 Downside: 1.7% NAND market very tight; raising price assumptions... While demand for enterprise SSDs (eSSDs) for servers remains strong, many of Kioxia's peers that produce both DRAM and NAND continue to prioritize investment in DRAM and remain cautious about investing in NAND due largely to cleanroom const ...

Core Insights - Western Digital Corporation (NASDAQ:WDC) is recognized as one of the 15 Best Aggressive Growth Stocks to Buy currently [1] - Loop Capital raised its price target for Western Digital from $190 to $250 while maintaining a Buy rating [1] - UBS also increased its price target from $135 to $145 after a solid fiscal first quarter 2026 report, but kept a Neutral rating [2][3] Company Performance - Loop Capital anticipates a growth in demand for hard disk drive capacity in 2025, with an expected increase in selling prices for higher capacity drives [2] - UBS described Western Digital's fiscal first quarter 2026 results as "solidly better," attributing this to strong demand, steady prices, and controlled supply, which improved margins [2][3] - UBS raised its EPS estimates for 2026 and 2027 from $7.74/$7.05 to $8.17/$7.45 [3] Industry Trends - The industry is hesitant to add more unit capacity, leading customers to prefer high-capacity enterprise SSDs (eSSDs) [3] - This trend is expected to continue as customers adapt to using eSSDs for nearline capacity [3]