[ET Net News Agency, 25 January 2021] Jefferies Research lifted its target price for
Kingsoft Corporation (03888) to HK$76 from HK$58 and maintained its "buy" rating.
The research house expects Kingsoft to embrace opportunities and unlock value in WPS and
KC (Kingsoft Cloud), driven by its leading position in office applications and accelerated
digitization. Jefferies expects WPS to become a future revenue driver and believes it
could surpass online games in 4Q 2021.
Jefferies estimated Kingsoft's total revenue to grow 5% QoQ to RMB1.46bn in 4Q 2020,
with WPS expected to grow 21% QoQ while online games declines by about 8% QoQ during
the quarter. (KL)