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<Research>M Stanley Lifts KUAISHOU-W (01024.HK) TP to HKD76; Rating Equal-weight
Recommend 21 Positive 28 Negative 14 |
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Morgan Stanley published a research report on KUAISHOU-W (01024.HK), which logged an 18% growth in its 2Q25 e-commerce GMV, surpassing the broker's expectations. On the back of content and shelf-led e-commerce, GMV growth remained stable in the 13-14% range over the past year, marking a considerable acceleration in growth. Kuaishou's monetization capability also improved, and the broker was positive about its guidance for a 15% GMV growth in 3Q25. This year's capex guidance was raised from RMB10 billion to RMB12 billion, reflecting robust demand for Kling and other AI application inference needs. The broker also raised its EPS estimates for the group for each year from 2025 to 2027 by 3-6%, and hiked its target price from HKD67 to HKD76, maintaining its rating as Equal-weight. AASTOCKS Financial News Website: www.aastocks.com |
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