Morgan Stanley initiated coverage of Chagee (CHA) with an Overweight rating and $37.50 price target China’s freshly brewed drinks market is sizeable and as the leading player in the premium freshly brewed tea segment, with 20% share by 2024 store count, Chagee stands out from the competition, the analyst tells investors. The firm projects 22%, 23% and 21% year-over-year sales growth in 2025, 2026 and 2027, respectively, and expects Chagee to grow earnings at a 17% compound annual growth rate from 2024-27, the analyst tells investors.
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