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<Research>CMBI Cuts KUAISHOU-W (01024.HK) TP to HKD70.5, Reiterates Buy
Recommend 30 Positive 55 Negative 23 |
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CMBI issued a research report stating that KUAISHOU-W (01024.HK) recorded total revenue growth of 3% YoY in 1Q26, largely in line with market expectations. During the period, adjusted net profit declined 26% YoY, but still exceeded market forecasts by 11%. Among its businesses, Kling AI maintained strong momentum, with 1Q26 revenue surging more than 300% YoY to RMB650 million. Looking ahead to 2Q26, the broker expects KUAISHOU-W's total revenue to grow 1% YoY, mainly driven by contributions from Kling AI and online marketing services. The broker remains optimistic about the company's AI business, believing it will support sustainable revenue growth and valuation recovery. Given KUAISHOU-W's increased investment in AI, the broker trimmed its earnings forecasts for FY2026-2028 by 1-3% and lowered its TP from HKD80 to HKD70.5, while reiterating a Buy rating. Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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