[ET Net News Agency, 20 August 2020] Jefferies Research raised its target price for
Kingsoft Corporation (03888) to HK$50 from HK$35 and maintained its "buy" rating.
The research house said Kingsoft's 2Q revenue and earnings beat expectations on strong
performance of online games and WPS. It revised full year online games guidance with PC
flagship title JX Online III to reach a new high this year after its peak in 2017. WPS
rides on a secular story with paying subs growing at fast pace together with licensing
back to normal after COV-I9.
Jefferies revised its 2020-22 non-GAAP net profit to RMB9,776mn/RMB1,772mn/RMB2,560mn
from RMB462mn/RMB1,523mn/RMB2,492mn. (KL)