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大摩:重申金山软件“增持”评级 目标价上调至41港元

Morgan Stanley: Reiterates KINGSOFT 'Shareholding' rating, raises Target Price to 41 Hong Kong dollars.

Sina Hong Kong Stock ·  Dec 17 10:49

Morgan Stanley released a research report stating that it believes KINGSOFT's (03888) gaming Business is performing strongly, and the renewed cooperation between Kingsoft Cloud and Xiaomi brings significant upward potential for market expectations regarding KINGSOFT. The firm reaffirmed its "Shareholding" rating for KINGSOFT and raised the Target Price from 36 Hong Kong dollars to 41 Hong Kong dollars.

Morgan Stanley pointed out that both gaming and cloud services are boosting earnings expectations, raising KINGSOFT's earnings per share forecast for 2025 and 2026 by 6% each, which is 16% and 18% higher than market forecasts respectively, and considers the current PE estimate of 17 times for 2025 to be attractive.

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