DBS: Resumes coverage of KUAISHOU-W with a "Buy" rating as AI unlocks the next phase of growth
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DBS Bank has resumed coverage of KUAISHOU-W, giving it a "Buy" rating with a target price of HKD 98. It is expected that adjusted earnings will grow by 16%, 20%, and 18% for the fiscal years 2025 to 2027, respectively. The application of AI technology will significantly enhance the effectiveness of advertising and e-commerce, while the purchasing power of users in lower-tier cities will also support growth above the industry average. As China's second-largest short video platform, KUAISHOU has over 700 million monthly active users, and its AI tools are expected to generate revenue of RMB 2.7 billion by the fiscal year 2027
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