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BOCI Upgrades KINGSOFT to Buy But Cuts TP to HKD40
2025-11-20 14:33:50
KINGSOFT (03888.HK)'s 3Q25 results were below forecasts, BOCI said in its report.

Specifically, KINGSOFT's revenue and net profit were 8-11% and 26-55% lower than expected, primarily due to the weak gaming business. However, revenue from the office software business grew by 26%, partially offsetting the impact.

BOCI upgraded KINGSOFT's rating from Hold to Buy but lowered its target price from HKD41.7 to HKD40, considering that the risk-reward ratio of the stock has become more attractive after a nine-month adjustment.
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