[ET Net News Agency, 19 November 2020] Goldman Sachs lifted its target price for
Kingsoft Corp (03888) to HK$49 from HK$46 and maintained its "buy" rating.
The research house said Kingsoft reported in-line 3Q results. Goldman expects online
games' revenue growth to moderate to -9%/6% YoY/QoQ in 4Q, with full-year growth at 19% in
2020.
Given the company's leading market position and extensive client base (notably SOEs),
Goldman expects continued momentum for office software with 38% revenue growth in 2020 and
also high double digit revenue CAGR in the mid-term.
Goldman lowered its 2020-22 revenues forecasts by 4-5% mostly on the moderated outlook
in online games due to delay in mobile title launches, partially offset by faster growth
in Office software and others. (KL)
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03888 KINGSOFT
Nominal 
25.750 +0.950 (+3.831%) Research Report
19/11/2020 18:01
{I-bank focus}Goldman lifts Kingsoft (03888) to HK$49; "buy"
| Remark: | Real time quote last updated: 24/04/2024 17:59 |
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