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<Research>Citi: KUAISHOU-W (01024.HK) Dips 9% Ytd on Concerns Over Food Delivery Service/ Kling Competition
Recommend 25 Positive 36 Negative 24 |
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KUAISHOU-W (01024.HK) dipped over 9% yesterday, Citi Research issued a research report saying. In addition to the overall weak market sentiment on AI-related stocks, the broker believed that this is related to two reasons. First, a media report suggested that KUAISHOU-W added access to food delivery service on its app. If true, Citi Research believed that the financial impact may be limited, as the service is primarily provided by MEITUAN-W (03690.HK), with no additional costs needed from KUAISHOU-W through further collaboration. Second, there are market concerns over KUAISHOU-W's video generation model, Kling, from competitors. However, the broker remained optimistic about Kling's potential for professional users and enterprises in the medium to long term, thanks to its first-mover advantage and rapid technology upgrade. Citi Research expected KUAISHOU-W's 2Q25 performance to be in line with expectations, and possibly beat previous guidance for Kling's 2025 revenue. Therefore, the broker kept rating at Buy, with a target price of $88. AASTOCKS Financial News Website: www.aastocks.com |
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