Major Wall Street firms are doubling their price targets on Kioxia Holdings Corp. after the Japanese memory-chip maker delivered a stronger-than-expected outlook. The bullish revisions signal analyst confidence in the NAND flash manufacturer's near-term prospects.

Kioxia, one of the world's largest producers of NAND memory, has benefited from sustained demand for chips used in data centers and AI applications. The company's optimistic guidance appears to have convinced skeptics who had been cautious about the memory sector's recovery trajectory.

The rapid target revisions underscore how quickly sentiment can shift when a key supplier signals improving demand dynamics. Memory chip prices have shown signs of stabilization after a prolonged downturn, and Kioxia's outlook suggests the recovery may be gaining traction faster than anticipated.