The following are the latest ratings and target prices for US stocks from various brokerage firms:
China International Capital Corporation We maintain our Outperform rating on Arista Networks Inc (ANET.N) with a target price of $164.
3Q25 results met expectations, with strong AI demand. We maintain our 2026 AI revenue guidance of $2.75 billion. The company benefited from its diversified network solution portfolio, with deferred revenue reaching $4.7 billion, and customer cluster deployments progressing smoothly. We raised our 2025 EPS forecast to $2.89, optimistic about its long-term growth potential. Our target price corresponds to a 2025 P/E ratio of 57x, representing an upside of 16.8%.
CICC maintains its "Outperform" rating on DoorDash Inc-A (DASH.O) with a target price of $275.
3Q25 GOV and revenue growth exceeded expectations, with improved monetization rate and EBITDA margin both year-on-year and quarter-on-quarter. The acquisition of Deliveroo will boost profitability and is expected to contribute to EBITDA in 4Q25 and 2026. We maintain our 2025/2026 EBITDA forecasts, with a target price corresponding to 32x EV/EBITDA in 2026, representing a 16% upside from the current price.
CITIC Securities Maintain Iquinix (EQIX.O) Buy rating, target price $1012:
Benefiting from the implementation of Distributed AI solutions and accelerated adoption by leading clients, the company saw a net increase of 7,100 interconnect units in Q3 2025, with Fabric bookings increasing by 57% year-on-year. AI's penetration into vertical sectors such as healthcare strengthens its application value. EBITDA margin reached 50%, AFFO grew by double digits, and cash flow remained robust. Globally, there are 58 projects under construction, expanding developable capacity to 3GW, supporting long-term growth. Based on a 2026 EV/EBITDA of 23x, we raise our target price to $1012.
Huaan Securities Maintain Overweight rating on Meta Platforms Inc-A (META.O):
Q3 2025 revenue reached $51.24 billion, a 26% year-over-year increase, with both ad volume and price rising, driven by AI-powered user engagement and conversion rates. Reels and AI advertising tools both generated over $60 billion in annualized revenue, and Meta AI surpassed 1 billion monthly active users. While upward revisions to CapEx and expense guidance have raised concerns, the core business remains strong, and long-term growth momentum is clear.
CICC maintains its "Outperform" rating on Robinhood Markets Inc-A (HOOD.O) with a target price of $2.50.
The non-GAAP net profit margin for Q3 2025 is projected to be 1.5%, benefiting from optimized expense ratios and increased user activity. Despite slower GMV growth and pressure on average order value, channel expansion and product adjustments are enhancing user stickiness. We are optimistic about its long-term growth potential, and its valuation has room for upside.
China Merchants Securities (Hong Kong) Uber maintains (UBER.N) Overweight rating, target price $121:
The company's cash revenue increased by 21% year-on-year in the third quarter, driven by strong demand in delivery and mobility services. Adjusted EBITDA increased by 33% year-on-year, and profit margins steadily improved. Fourth-quarter guidance exceeded expectations, with a strategic focus on cross-platform collaboration, autonomous driving partnerships, and AI-enabled solutions. Although the target price was lowered to reflect reinvestment leading to slower profit margin expansion, the long-term growth logic remains solid, and we are optimistic about its potential in local retail and global expansion.
CITIC Securities maintains its support for ON Semiconductor. (ON.O) Buy rating:
Benefiting from sequential growth across various end-market segments, the company's quarterly results exceeded expectations, and its guidance for the next quarter is in line with expectations. The company exited non-core businesses and acquired Vcore power technology to strengthen synergies with the Treo platform. AI business revenue is expected to double to $250 million by 2025. The current share price corresponds to a PE (Non-GAAP) of 20/17/12 times for 2025-2027, making the valuation attractive.
China Merchants Securities (Hong Kong) maintains its view on Yum China. (YUMC.N) Overweight rating, target price based on a mid-26 year P/E ratio of 21.0x:
Third-quarter results were solid, with SSSG continuing its positive growth and same-store sales outperforming peers. Store expansion accelerated, with a clear full-year target for new store openings, and innovative business formats contributed to incremental sales. While the proportion of takeout orders increased, profit margins remained resilient, and the commitment to shareholder returns remained strong, supporting the stock price recovery.
CICC maintains Bunge's (BG.N) Outperform rating, target price $110:
3Q25 results exceeded expectations, benefiting from the synergies of the Viterra acquisition and agricultural products. Shifting trade patterns have led to increased volume and profit in soybean, soft seed, and grain businesses. We have raised our 2025/26 earnings forecasts, projecting adjusted EPS of $7.50 and $7.60, respectively. Our target price is based on 11x 2026 EV/EBITDA, reflecting increased business visibility and the release of integration benefits.
Huatai Securities Maintain AMD (AMD.O) Buy rating, target price $280:
Q3 revenue and profit exceeded expectations, data center Strong growth in client-side business. High visibility in AI orders, with major clients such as OpenAI and Oracle secured, and revenue potential reaching tens of billions of dollars in 2027. We have raised our 2026/2027 revenue and earnings forecasts, and the valuation has returned to historically high levels. We reiterate our buy rating.
CICC has given Advanced Micro Devices (AMD.O) an "Outperform" rating with a target price of $265.
3Q25 results exceeded expectations, with data centers and gaming among the top performers. Strong business growth. The MI450 Helios secured a major customer order, and mass production and shipments in the second half of 2026 are expected to enhance the competitiveness and profit margin of AI GPUs. We have raised our FY26 earnings forecast and are optimistic about accelerated deployment in 2027. Current valuation reflects growth potential; our target price corresponds to a FY26 P/E ratio of 43.0x.
BOCOM International maintains its "Buy" rating on Advanced Micro Devices (AMD.O) with a target price of $275.
3Q25 results and 4Q guidance both exceeded expectations, driven by strong demand for data center CPUs and GPU accelerators. The MI350 series achieved successful mass production, and the ROCm 7 improved efficiency. EYPC CPUs benefited from the AI-driven upgrade cycle. We have raised our revenue and EPS forecasts for 2025-27, and increased our target price to $275, corresponding to a 35x average P/E ratio for 2026/27.
China Merchants Securities maintains a strong buy rating on Didi (ADR) (DIDIY.F):
The company's China travel business maintained steady growth, but peak season investments put pressure on Q3 profits. Full-year EBITA guidance is RMB 12 billion, with a margin of 3.7%. International travel business is marginally profitable, while food delivery losses widened due to expansion in Brazil, facing short-term pressure but promising long-term profitability potential. Adjusted net profit is projected to be RMB 5.8 billion, RMB 6.8 billion, and RMB 15.5 billion for 2025-2027, with a stable market share and gradually increasing profit elasticity.
CITIC Securities gave Dingdong Maicai (DDL.N) Overweight rating:
Q3 2025 revenue is projected to increase by 1.9% year-on-year, with GMV remaining flat. Non-GAAP net profit is expected to be RMB 108 million, a year-on-year decrease of 32.9%, with a net profit margin of 1.6%, affected by declining agricultural CPI and intensified competition. In the short term, the company faces industry pressure and weak demand for fresh produce, but the "good products" strategy and synergy with its B2B business are expected to enhance competitiveness and expand profit margins in the long term.
CICC maintains its "Outperform" rating on Dingdong Maicai (DDL.N) with a target price of $2.50.
We expect revenue to grow by 2% year-on-year in Q3 2025, with a non-GAAP net profit margin of 1.5%, mainly due to cost optimization offsetting pressure on gross margin. While GMV growth is slowing, user stickiness is improving, and the normalization of product adjustments is expected to drive long-term growth. Our target price corresponds to 11x non-GAAP P/E in 2025, representing an upside of 42%. Risks: Weak consumer demand and intensified competition.
Everbright Securities Maintain Qualcomm (QCOM.O) Overweight rating:
FY2025 results and FY26Q1 guidance exceeded expectations, with non-GAAP revenue of $44.141 billion (YoY +13%), driven by increased mobile ASP and IoT. The automotive business grew by 22% and 36% respectively. Expansion into new scenarios such as edge AI, XR, and data centers is progressing smoothly, and intelligent driving solutions for automobiles are under development. We maintain our FY2026-2028 net profit forecasts of $11.5 billion/$12.5 billion/$13 billion, with the current price corresponding to a PE ratio of 17x/15x/15x, making the valuation attractive.
CICC maintains Huazhu (HTHT.O) Outperform rating, target price $48:
We expect Q3 2025 profit to increase by 10% year-on-year, with RevPAR benefiting from improved ADRs and a low base. The overall performance of our mid-to-high-end brands is expected to strengthen their competitiveness throughout the quarter. We have raised our 2025-2026 net profit forecasts to RMB 4.691 billion and RMB 5.3 billion respectively, and are optimistic about the potential for valuation recovery.
Huaan Securities maintains Amazon (AMZN.O) Overweight rating:
Q3 2025 revenue reached $180.2 billion, a 13% year-over-year increase. AWS revenue grew by 20% year-over-year, exceeding expectations. Strong AI demand drove full subscriptions for the Trainium 2 chip cluster. Advertising and subscription businesses continued their high growth, while retail profits were dragged down by special expenses, but core fundamentals remained solid. The median operating profit guidance for Q4 exceeded that of the same period last year, indicating strong long-term growth momentum.
China Merchants Securities (Hong Kong) has given Amazon (AMZN.O) an "Overweight" rating with a target price of $301.
AWS secured a $38 billion long-term agreement with OpenAI, highlighting its leadership in AI computing power. This, coupled with cost reductions and efficiency improvements from Trainium2, is driving a rebound in cloud business growth. The successful launch of the New Glenn rocket will accelerate Kuiper deployment and enhance autonomous launch capabilities. E-commerce and cloud computing are driving growth, the trade environment is improving, and DCF valuations indicate growth potential. Risks stem from macroeconomic factors, competition, and regulation.
(Article source: CLS)
