Bank of America Merrill Lynch: Reiterated KUAISHOU-W (01024) "Buy" rating with a target price of HK$94.

Bank of America released a research report stating reaffirming a "buy" rating on Kuaishou-W (01024) with a target price of HK$94, and believes that the market's concerns about competition may be somewhat exaggerated. The bank expects Kuaishou's performance in the fourth quarter of 2025 to meet expectations and maintains its previous forecasts. It anticipates a 10% year-on-year increase in revenue to RMB 38.9 billion, and a 15% year-on-year increase in adjusted net profit to RMB 5.4 billion. Advertising/e-commerce revenue is expected to increase by 13% and 17% year-on-year. It is expected that Kuaishou's Kling business will generate revenue of RMB 370 million in the fourth quarter, higher than the previous forecast of RMB 330 million.