Jefferies Research raised its target price for Kingsoft Corporation (03888) to HK$33 and maintained its "buy" rating.
The research house expects Kingsoft's different business segments to be less impacted by Covid-19 in 1Q, while its full-year outlook remains intact across gaming, Cloud, and WPS.
In 2020, Jefferies expects gaming to remain relatively stable benefiting from expansion packs of existing games, while WPS maintains solid momentum driven by enterprise revenue
while Cloud computing maintains its fast-growing trend. It also expects the market to shift focus to the "To B" business of WPS and Cloud, which is in the early stage of growth.
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