Kuaishou Technology (01024.HK) saw its stock price soar 5.03% during intraday trading on Thursday, following a bullish upgrade from Nomura analysts. The surge came as the market responded positively to the company's strong performance in artificial intelligence and its promising earnings outlook.
Nomura raised its rating on Kuaishou to "buy" from "neutral" and increased its target price to HK$63.00 from HK$55.00. The upgrade was primarily driven by the impressive monetization progress of Kuaishou's AI application, Kling. As an early mover in the text/image-to-video segment, Kling generated CNY100 million in subscription revenue in the first quarter, with management projecting over CNY700 million in revenue for the year.
The positive sentiment was further reinforced by HSBC, which maintained its "buy" rating on Kuaishou. HSBC analysts expressed increased confidence in the company's ability to meet its 2025 growth targets for its core business and noted greater clarity in its advertising outlook. The stock's performance also outpaced the broader market, with Kuaishou emerging as the top percentage gainer in the Hang Seng Tech Index on the day.
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