Deutsche Bank initiated coverage of Chagee (CHA) with a Buy rating and $40.50 price target The firm says the number of stores selling freshly made tea drinks “has taken off” in China in recent years, increasing six-fold over 2019 to 2024, led by Chagee, the largest premium milk tea company in China. The company has a “well-protected leading premium position due to strong brand equity from core products and product innovation,” the analyst tells investors in a research note. Deutsche likes Chagee’s “healthy pace” of store openings in China amid a rapidly growing tea industry.
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