Kingsoft Cloud Holdings Ltd (KC) saw its stock price surge 5.23% in Wednesday's trading session, following a bullish initiation of coverage by Deutsche Bank. The significant uptick in the cloud computing company's shares comes as investors react positively to the new analyst recommendation.

Deutsche Bank analyst Leo Chiang kicked off coverage of Kingsoft Cloud with a Buy rating, setting an optimistic price target of HK$11.00. This move signals confidence in the company's future prospects and potential for growth in the competitive cloud services market.

The positive analyst coverage could potentially attract more investor attention to Kingsoft Cloud, possibly leading to increased trading volume and further price movements in the near term. As the cloud computing industry continues to expand rapidly, Kingsoft Cloud's position in the market and its ability to capitalize on growth opportunities will likely be closely watched by investors and analysts alike.