UBS Raises Kingsoft Cloud Holdings Limited TP to USD19, Maintains Buy
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UBS has raised its target price for Kingsoft Cloud Holdings Limitedfrom USD18.5 to USD19, maintaining a Buy rating. The company reported first-quarter revenue of RMB2.704 billion, surpassing forecasts, but recorded a wider non-GAAP operating loss of RMB60 million. UBS expects strong revenue growth in Q2, projecting a YoY increase of 27%. The full-year capital expenditure forecast has been raised to RMB15-20 billion to support expansion.
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