Shares of Chagee Holdings Limited (CHA) are soaring 5.14% in intraday trading on Monday, following a bullish initiation from a major Wall Street firm. The stock's significant uptick comes as investors react positively to new analyst coverage.

Morgan Stanley, a leading global financial services firm, has initiated coverage on Chagee Holdings with an Overweight rating. This favorable assessment from a respected institution has sparked renewed interest in the stock, driving its value higher. An Overweight rating typically suggests that the analyst believes the stock will outperform its sector in the coming months.

While specific details of Morgan Stanley's analysis are not immediately available, such ratings are often based on a company's financial health, growth prospects, and competitive position within its industry. The market's strong reaction indicates that investors are aligning their sentiment with Morgan Stanley's positive outlook on Chagee Holdings. As trading continues, it remains to be seen whether this momentum will be sustained in the days ahead.