UBS: The target price for MiniMax-W (00100) is raised to 1,000 Hong Kong dollars, with the market's underestimation of the synergies in multimodal coordination being one of the reasons.

date
16:32 27/04/2026
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GMT Eight
The line expects that with continued iteration of the model, the group will be able to drive engineering-level optimization of the design of "Harness", thereby systematically improving the efficiency of AI agents.
UBS has released a research report stating that since its listing, MiniMax-W (00100) has seen its stock price rise by 371%, reflecting investors' recognition of its unique positioning. The bank believes that the market has underestimated the group's breakthroughs in areas such as multimodal synergies and infrastructure advantages, and expects these factors to drive the next stage of model upgrades. The bank anticipates that as the models continue to iterate, they hope that the group can drive engineering level "Harness" design optimization, systematically increasing the effectiveness of AI agents. UBS has given MiniMax a "buy" rating with a target price of HK$1,000.