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<Research>M Stanley Axes KUAISHOU-W (01024.HK) TP by 25% to HKD55; Negative Surprise on 2026 Outlook
Recommend 18 Positive 22 Negative 20 |
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Morgan Stanley's research report covered KUAISHOU-W (01024.HK), which achieved a 12% revenue growth in 4Q25, topping the broker's expectations by 2%, powered by faster online marketing growth. The GMV added by 13%, outshining other e-commerce platforms; the Kling revenue reached RMB340 million, slightly below expectations. The adjusted profit rose by 16% YoY, surpassing the broker's expectations by 1%. The full-year adjusted net profit was RMB20.65 billion, above the previous guidance. The broker lowered its EPS forecast for 2026-28 by 17-24%, and axed its target price by 25% from HKD73 to HKD55, maintaining a rating of Equalweight. AASTOCKS Financial News Website: www.aastocks.com |
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