Morgan Stanley Sets HK$65 Price Target and 'Overweight' Rating on Kuaishou-W, Values Kling AI at US$18 Billion Post-Split

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6小时前

Morgan Stanley has issued a research report assigning a target price of HK$65 and an 'Overweight' rating to Kuaishou-W (HKEX: 01024).

The company has announced the spin-off of its artificial intelligence video generation large language model, "Kling AI". The pre-transaction valuation for Kling is US$15 billion.

Kling aims to raise up to US$3 billion from 15 external investors, including Tencent Holdings Ltd (HKEX: 00700), Alibaba Group Holding Ltd (HKEX: 09988), and Baidu Group Inc (HKEX: 09888).

The post-transaction valuation is estimated at US$18 billion, which the firm believes exceeds current market expectations for Kuaishou.

Kling will allocate 15% of its equity to incentivize core talent, with 7% designated for grants and 8% reserved for future strategic development.

The CEO of Kling will possess super-voting rights. Following the transaction's completion, Kuaishou's ownership stake in Kling will decrease from 100% to 68.3%.

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