BofA analyst Daley Li upgraded Kingsoft Cloud (KC) to Buy from Neutral with a price target of HK$10.60, up from HK$6.70. The post-Q2 upgrade comes given higher revenue growth visibility driven by AI and incremental demand from Xiaomi ecosystem; improving business quality; and improving profitability on operating leverage and stringent cost control with stable opex spending in the next few years, the analyst tells investors in a research note. The firm added that it expects Kingsoft to reach adjusted operating-level breakeven in FY27.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on KC: