Morgan Stanley: Maintains "Overweight" rating on Kingdee International (00268.HK), target price HK$11.4; AI drives accelerated ARR growth in the third quarter.

Zhito Finance APP has learned that Morgan Stanley issued a research report maintaining a "Overweight" rating on Kingdee International (00268.HK) with a target price of HK$11.4. The company's subscription annual recurring revenue (ARR) for the third quarter of 2026 reached RMB 4.6 billion, up 19.3% year-on-year and 4.3% quarter-on-quarter, with the year-on-year growth rate accelerating from 18.7% in the first quarter and 18.3% in the second quarter. Net new ARR in the third quarter increased 47% year-on-year, and the company attributed the acceleration in ARR growth to rising customer demand for AI-native products such as Lingee.