CXMT stock soars 535% on debut, and Nomura sees a 1,239% rally from its IPO price

CXMT stock surged 535% on its debut, with Nomura projecting a 1,239% rally from the IPO price.

Nomura expects AI demand and DRAM market-share gains to drive CXMT higher.

Morningstar's 14.90-yuan valuation highlights CXMT's EUV technology risk.