Buy Rating Affirmed for Kingsoft on Strong Q1 Performance and Promising Strategic Initiatives

Jefferies analyst Thomas Chong maintained a Buy rating on Kingsoft (KSFTF - Research Report) on May 22 and set a price target of HK$35.00. Thomas Chong has given his Buy rating due to a combination of factors indicating a positive outlook for Kingsoft's financial performance and strategic initiatives. The analyst has observed that Kingsoft's first-quarter results showed revenue in alignment with estimates and adjusted operating profits that exceeded expectations. The company's online games segment, despite a quarter-over-quarter decline, is expected to rebound with new game releases, including the promising title "Snowbreak: Containment Zone," and the mobile version of "JX3 Ultimate."…