Morgan Stanley predicted a 2027 target price of 930, but it already hit 970 yesterday. Has it been realized ahead of schedule?
Morgan Stanley evaluates MiniMax as "a globally top-tier foundational model scarce asset," with the core logic of high valuation being "technology determines the ceiling, globalization determines valuation."
If the MiniMax model's performance continues to enter the global top tier, its ceiling comes from the global Total Addressable Market (TAM); if the revenue structure is primarily overseas, the valuation anchor will naturally align with international comparable companies, benchmarking against non-traditional Chinese software companies
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