CITIC Securities and Haitong Securities initiate coverage on MiniMax with a "Buy" rating and a target price of 620 yuan
CITIC Securities released a research report, initiating coverage on MiniMax-WP (Xiyu Technology) (00100.HK), with a "Buy" rating and a target price of 620 yuan. The firm pointed out that the company's fully self-developed multimodal large model has leading performance, a high proportion of overseas revenue, and ample cash reserves; it is expected to generate revenue of 220 million USD in 2026, giving a forecast price-to-sales ratio of 113 times as the basis for valuation, reflecting its growth potential as a scarce globalized AI stock in the Hong Kong market
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