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Investing.com - Morgan Stanley has double upgraded Macronix (TPE:2337) (OTC:MXICF) from Underweight to Overweight, raising its price target to NT$29.00 from NT$16.50.
The significant rating change reflects Morgan Stanley’s view that Macronix is positioned to benefit substantially from positive pricing trends in NOR and SLC NAND memory markets.
Morgan Stanley expects a low single-digit NOR under-supply to continue into 2026, driven by capacity being redirected to other high-margin products across the industry.
For SLC NAND memory, the firm notes that capacity reductions from competitors Kioxia and Micron could create "a severe shortage at high density SLC NAND."
NOR and NAND memory products combined represent approximately 70% of Macronix’s total revenues in 2024, according to Morgan Stanley’s analysis.
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