Latest news with #ThomasChong
Business Insider
4 days ago
- Business
- Business Insider
Kingsoft (KSFTF) Receives a Buy from Jefferies
Jefferies analyst Thomas Chong maintained a Buy rating on Kingsoft (KSFTF – Research Report) on May 29 and set a price target of HK$42.80. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Chong covers the Communication Services sector, focusing on stocks such as Tencent Holdings , Kingsoft, and Weibo. According to TipRanks, Chong has an average return of 8.7% and a 50.10% success rate on recommended stocks. In a report released yesterday, Morgan Stanley also maintained a Buy rating on the stock with a HK$45.00 price target.
Yahoo
6 days ago
- Business
- Yahoo
Jefferies Trims Kingsoft Cloud (KC) Price Target, Keeps Buy Rating
Jefferies analyst Thomas Chong lowered the price target for Kingsoft Cloud Holdings Ltd (NASDAQ:KC) to $16 from $18 on May 28 and maintained a Buy rating. The adjustment came only hours after the company's Q1 2025 results were released. A computer engineer seated in front of several connected consoles, illustrating the depth of cloud services offered by the company. Kingsoft Cloud's quarterly revenue reached RMB1,970.0 million ($271.5 million), a 10.9% increase year-over-year but an 11.7% decrease quarter-over-quarter. Management attributed the sequential decline to seasonal factors and timing issues related to product deliveries in the enterprise cloud segment. But, despite the challenges, Tao Zou, the company's CEO, is confident that the future of their cloud business is robust. He stated that 'the importance for cloud services as infrastructure in the AI-era is gaining greater traction.' As such, the company is 'fully committed into our AI related investment and high-quality and sustainable business development.' Chong also touched on this aspect in his research note. He emphasized the strong demand for Kingsoft Cloud's AI services despite trimming the price target. Notably, the company's gross billing of AI business increased by 228% year-over-year to RMB525 million ($72.975 million). He also noted that the Kingsoft Cloud's new approach to leasing could potentially reduce gross profit margins but would also decrease reliance on cash reserves. With the current price target set at $16, Jefferies' valuation reflects Kingsoft Cloud's financial standing and evolving market conditions. Kingsoft Cloud Holdings Limited (NASDAQ:KC) is a leading cloud service provider in China. The company offers products like infrastructure-as-a-service (IaaS), platform-as-a-service (PaaS), and enterprise cloud services. These products incorporate advanced technologies such as AI, big data, IoT, and edge computing. While we acknowledge the potential of Kingsoft Cloud Holdings Ltd (NASDAQ:KC) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than KC and that has 100x upside potential, check out our report about the cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
20-03-2025
- Business
- Yahoo
Meituan Stock Return Targets Are Among Highest in China Tech
(Bloomberg) -- Meituan's results due later Friday will help assess if its share price upside is as promising as sell-side analysts suggest. New York Subway Ditches MetroCard After 32 Years for Tap-And-Go Amtrak CEO Departs Amid Threats of a Transit Funding Pullback Despite Cost-Cutting Moves, Trump Plans to Remake DC in His Style LA Faces $1 Billion Budget Hole, Warns of Thousands of Layoffs NYC Plans for Flood Protection Without Federal Funds They estimate the stock will rise to HK$219.91 in the next year, 31% above the last closing price, according to data compiled by Bloomberg. That's one of the biggest gaps among Chinese tech giants traded in Hong Kong. While Meituan shares have rallied 11% this year, that's much less than the 31% surge in the Hang Seng Tech Index as investors have favored companies more directly tied to China's boom in artificial intelligence. Analysts estimate sales at the food-delivery giant increased almost 20% in the fourth quarter from the same period in 2023, which would be the smallest growth in more than two years, though they project an improved gross margin of 37%. With the macro picture stabilizing, investors will focus on Meituan's outlook for food delivery as well as clues on the competitive landscape and investments in new initiatives, said Thomas Chong, an analyst at Jefferies Financial Group Inc. Inc. launched its JD Takeaway platform in February, adding to an already crowded space. A New 'China Shock' Is Destroying Jobs Around the World Tesla's Gamble on MAGA Customers Won't Work How TD Became America's Most Convenient Bank for Money Launderers The Real Reason Trump Is Pushing 'Buy American' The Future of Higher Ed Is in Austin ©2025 Bloomberg L.P. Sign in to access your portfolio
