Daiwa: Raises Kuaishou's target price to HK $67, expecting Ling AI to contribute approximately US $60 million in revenue this year.

Morgan Stanley released a report, predicting that Kuaishou's revenue in the first half of this year will increase by 12% year on year to reach 35 billion yuan, and adjusted net profit will increase by 10% year on year to 5.1 billion yuan, which is basically in line with its guidance. The bank has raised Kuaishou's target price by 12%, from 60 Hong Kong dollars to 67 Hong Kong dollars, pushing the valuation benchmark forward by 6 months to June 2026, and incorporating the latest exchange rate forecasts. It maintains its "synchronize with the market" rating on Kuaishou, while raising the bull market scenario target price from 82 Hong Kong dollars to 91 Hong Kong dollars, equivalent to a forecasted P/E ratio of 17 times. Credit Suisse estimates that Kuaishou's subsidiary Kaling AI will contribute approximately US$60 million in revenue this year.