Macquarie analyst Linda Huang initiated coverage of Luckin Coffee (LKNCY) with an Outperform rating and $52 price target. China’s coffee market is experiencing a boom as the number of coffee-drinkers and per-capita consumption rises, and Luckin has overtaken Starbucks (SBUX) as China’s largest coffee chain, operating 26,000 stores as of mid-2025, the analyst tells investors in a research note. Macquarie expects Luckin to post continued net profit growth of at least 20% per year, the firm added.
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