Bernstein significantly raised its target price for SNDK to $3,000.
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Goldman Sachs raised the target prices of several chip and memory concept stocks.
According to BlockBeats, on July 6th, Goldman Sachs raised its target prices for several stocks in the semiconductor and memory sectors: AMD's target price was raised from $450 to $640, with a "buy" rating reiterated; Qualcomm's target price was raised from $145 to $180; Western Digital's target price was significantly raised from $400 to $650; and SanDisk's target price was raised from $1200 to $2200.
JPMorgan: Open source weight commercialization exhibits a "winner-takes-all" phenomenon; Zhipu target price raised to HK$2,000, MiniMax target price cut to HK$300.
According to BlockBeats, on July 8th, JPMorgan Chase released a research report stating that currently competitive models in the market can expand adoption through open-source weighting and continue to monetize through official APIs, partner channels, enterprise deployments, and workflow products; while weaker models face faster price comparisons and traffic fragmentation. JPMorgan Chase raised its revenue forecasts for Zhipu from 2026 to 2030 by 3% to 9%, and narrowed its adjusted loss forecasts for 2026 and 2027 to RMB 3.711 billion and RMB 3.141 billion respectively. The 2028 forecast was revised from a loss of RMB 1.287 billion to a profit of RMB 2.367 billion. The target price was raised from HKD 1800 to HKD 2000, maintaining an "Overweight" rating. The report believes that the performance of GLM-5.5/6, KimiK3, and DeepSeekV4.1 will be key indicators of whether Zhipu can maintain its leading position. JPMorgan lowered its revenue forecasts for MINIMAX-W (2027-2030) by 2% to 8%, and reduced its target price from HK$400 to HK$300, while maintaining a "neutral" rating. The company noted that the M3 model offers a permanent 50% discount, reflecting that the model has not yet created a significant capability premium for leading domestic competitors. JPMorgan believes that if MiniMax can narrow the capability gap, normalize the discount, maintain API usage, and demonstrate stronger workflow stickiness through MiniMaxCode, its outlook could turn positive.
Bernstein: Maintains year-end target price of $150,000 for Bitcoin; current pullback is still weaker than historical cycles.
According to Mars Finance, on July 7th, despite a roughly 54% drop in Bitcoin's price from its October 2025 high of nearly $125,000, Bernstein maintained its year-end target price of $150,000. Bernstein believes that the current pullback is significantly less than the 75% to 90% declines commonly seen at the end of historical cycles, indicating a shift in market structure. In the current context of low market sentiment, Wall Street's clear target prices provide a price anchor, while historical retracement frameworks help traders assess risk. If this cycle follows historical trends, the market may still decline further, but institutional assessments of the subsequent recovery are still worth noting. The firm points out that the previous high of nearly $125,000 in October 2025 remains a significant resistance level; based on a historical 75% retracement, the corresponding price is approximately $31,000, which can be considered a key failure zone. Going forward, we will focus on whether the inflow of funds into Bitcoin spot ETFs and spot demand will rebound, as these are important signals for judging whether the market has entered a recovery phase.
Bernstein: Launches coverage study on SpaceX, target price $239
According to Mars Finance, Bernstein has launched a coverage study on SpaceX (SPCX.O) with an "Outperform" rating and a target price of $239.
UBS raised its target price for SK Hynix to 3.2 million won and maintained its buy rating.
According to a report by Odaily, SK Hynix is continuing to push for more revised long-term agreements, focusing on DDR5 and NAND Flash for hyperscale data center customers. These contracts have terms exceeding five years, with approximately 60% to 70% of the expected volume and price already locked in, which will improve future earnings visibility. Based on a projected price-to-book ratio of 3.65 for the next 12 months, UBS has raised its target price for SK Hynix from 3 million won to 3.2 million won and maintained its buy rating. SK Hynix began ramping up HBM4 shipments for its Rubin platform in the second quarter, indicating that it has completed final design adjustments to meet specifications. While Samsung Electronics' HBM bit market share may be slightly higher than SK Hynix's in 2027 (41% vs. 39%), in the long term, HBM's share in SK Hynix's DRAM business is expected to be higher than its peers. UBS predicts that HBM's share of DRAM revenue will rise from 15% in 2026 to 58% in 2030. Further increases in the average selling price of HBM will provide additional support for profitability in 2027. UBS stated that shareholder reward policies are expected to continue to strengthen, and anticipates share buybacks to begin after the ADR listing and gradually accelerate. UBS points out that DDR and NAND Flash contract pricing still has room for further increases in the second half of 2026. Considering the revised long-term agreements and HBM, UBS forecasts a 43% quarter-on-quarter increase in DRAM average selling prices in Q2 2026, a 21% increase in Q3, and a 13% increase in Q4; for NAND, it expects a 43% quarter-on-quarter increase in the mixed average selling price in Q2, a 25% increase in Q3, and a 10% increase in Q4. Taking into account the upward revision of average selling price forecasts, UBS has raised its SK Hynix operating profit forecast by 7% to 327 trillion won this year, and by 12% each for the next two years to 623 trillion won and 667 trillion won.
Goldman Sachs raised its price target for AMD to $640 and for Qualcomm to $180.
According to market sources, Odaily has raised its price target for AMD (AMD.O) from $450 to $640 and for Qualcomm (QCOM.O) from $145 to $180. (Jinshi)