diff --git a/drivers/xen/xen-balloon.c b/drivers/xen/xen-balloon.c
index 6d12fc368210..a8d24433c8e9 100644
--- a/drivers/xen/xen-balloon.c
+++ b/drivers/xen/xen-balloon.c
@@ -94,7 +94,7 @@ static void watch_target(struct xenbus_watch *watch,
 				  "%llu", &static_max) == 1))
 			static_max >>= PAGE_SHIFT - 10;
 		else
-			static_max = new_target;
+			static_max = balloon_stats.current_pages;
 
 		target_diff = (xen_pv_domain() || xen_initial_domain()) ? 0
 				: static_max - balloon_stats.target_pages;