[ET Net News Agency, 31 August 2020] Morgan Stanley raised its target price for
Kingsoft Corporation (03888) to HK$44 from HK$28 and maintained its "equal-weight" rating.
The research house said Kingsoft's MAU (monthly active user) increased 30% and paying
user base expanded 98% in 1H. The 34% revenue growth slowed down from 63% in 2019,
primarily owing to delayed government/enterprise offline IT procurement and weak on-line
ad business.
On the B2B side, management is optimistic on the Chinese software localization
initiative in the public sector, and has already observed strong post-COVID-19 recovery in
early 3Q. Morgan expects it to recover from 2H with dominant market share unchanged. (KL)
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03888 KINGSOFT
Nominal 
23.500 -0.700 (-2.893%) Research Report
31/08/2020 13:58
{I-bank focus}Morgan raises Kingsoft (03888) to HK$44
| Remark: | Real time quote last updated: 19/04/2024 18:00 |
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