The following are the latest ratings and target prices for US stocks from various brokerage firms:
CITIC Securities Maintain Buy rating on Arista Networks Inc (ANET.N):
The company's quarterly results exceeded expectations, benefiting from AI-driven growth and increased capital expenditure by cloud vendors. Although short-term supply constraints may affect the next quarter's guidance, revenue growth for 2025-2026 is still projected at 26%-27% and 20%, respectively, with rapid growth in AI-related revenue. The company maintains a solid competitive advantage in the switch market, and its campus network and software businesses continue to be implemented, indicating promising medium- to long-term growth.
Huachuang Securities Maintain Buy rating on Arista Networks Inc (ANET.N):
The company's revenue in Q3 2025 was $2.308 billion, a year-on-year increase of 27.5%, with a non-GAAP gross margin of 65.2%. AI business has become the core growth engine, with a revenue target of $2.75 billion for fiscal year 2026. The park business is expanding rapidly, with outstanding performance in the Asian market. Leveraging the EOS platform and technological innovation, the company is deeply integrated with cloud vendors and AI giants, driving long-term growth through multi-scenario collaboration.
Huatai Securities We maintain our Buy rating on Arista Networks Inc (ANET.N) with a target price of $159.58.
The company's Q3 revenue exceeded expectations, benefiting from the AI Ethernet trend and the deployment of hyperscale clusters. The company has raised its 2026 revenue guidance to $10.65 billion, with AI center revenue reaching $2.75 billion. The non-GAAP gross margin of 65.2% demonstrates its profitability. Leveraging its EOS software advantages and the ESUN industry alliance, the company is expected to continue to capture a significant share of the high-end switch market and enjoy a high valuation premium.
CITIC Securities maintains its "Buy" rating on Arm Holdings plc ADR (ARM.O) with a target price of $190.
The company's quarterly results and guidance for the next quarter exceeded expectations. The License business benefited from high-value orders and the release of backlogged revenue, with ACV increasing by 28% year-on-year. The Royalty business saw growth across all end-market segments due to increased penetration of the v9 architecture and expansion of CSS. Data Center Neoverse deployments are expected to account for nearly 50% of total deployments, and its long-term growth potential is recognized. The upward revision of valuation reflects its strong fundamentals.
CITIC Securities maintains its "Buy" rating on Astera Labs Inc (ALAB.O) with a target price of $202.
Benefiting from the growth of product lines such as Aries Retimer and Scorpio switches, the company's performance exceeded expectations. PCIe-6, Scorpio X, and 800G Taurus AEC are expected to see increased volume, driving continued growth. The company is also investing in cutting-edge technologies such as UALink and optical connectivity, which are expected to gradually contribute to revenue starting in 2027, demonstrating strong long-term growth potential.
China Merchants Securities (Hong Kong) Maintaining BeiGene (ONC.O) Buy rating, target price $392.43:
The company's Q3 revenue continued its strong growth, with zanubrutinib leading global sales and profitability continuing to improve. Both SG&A and R&D expense ratios decreased, significantly improving operating leverage. Core products are rapidly scaling up in the CLL market, while novel combination therapies and the CDAC pipeline solidify its leading position in hematologic malignancies. Based on the upward revision of earnings forecasts, the DCF target price has been raised to $392.43.
First Shanghai Securities News has given Coinbase Global Inc-A (COIN.O) a buy rating with a target price of $370.00.
Q3 2025 revenue and profit exceeded expectations, with both retail and institutional trading showing growth. Subscription and service revenue accounted for 40% of total revenue, driving the profit model towards SaaS. USDC reached a new high in scale, with assets under custody exceeding $300 billion, strengthening its ecosystem barriers. The acquisition of Deribit expanded its derivatives portfolio, and the "Exchange for Everything" strategy opens up long-term growth potential. High growth and diversification support a P/S ratio of 11.7x.
China International Capital Corporation We maintain our Outperform rating on Corteva Inc (CTVA.N) with a target price of $70.
Q1-Q3 2025 results met expectations, with both seed and crop protection businesses showing growth, EBITDA up 19% year-on-year, and improved profitability. Full-year guidance has been raised. The spin-off of SpinCo will focus on seed innovation, with a rich pipeline of new products. The target price reflects a 2025 P/E ratio of 19x, representing a 10.85% upside from the current price.
China Merchants Securities (Hong Kong) maintains its buy rating on Datadog Inc-A (DDOG.O) with a target price of US$203.7.
The company's Q3 2025 revenue reached $886 million, a 28% year-over-year increase, exceeding expectations, driven by strong demand from AI-native customers and a rebound in growth from non-AI customers. Non-GAAP net profit increased by 19% year-over-year, with operating leverage being released better than expected. The number of customers reached 32,000, with major customers contributing 89% of ARR, and cross-selling continuing to deepen. We are optimistic about its long-term growth potential under the trends of digital transformation and cloud migration.
Huatai Securities maintains its buy rating on DoorDash Inc-A (DASH.O):
The company's 3Q25 government value, revenue, and order volume all exceeded expectations, driven by strong growth in its core US restaurant business, international expansion, and vertical category development. Although short-term profit pressures are due to rising operating costs and reinvestment, the long-term growth logic remains solid. Based on a 2026 EV/EBITDA multiple of 30x, the target price is $280.6.
CICC maintains its "Outperform" rating on Dutch Bros Inc-A (BROS.N) with a target price of $71.
3Q25 results exceeded expectations, with revenue up 25% year-over-year and same-store sales growth of 5.7%, primarily driven by increased transaction volume. Expansion of the food business is expected to further boost morning customer traffic and average transaction value. Although rising coffee costs have put pressure on profit margins, leading to a downward revision of EPS forecasts, the long-term logic of store expansion and operational optimization remains unchanged. The target price is derived from a 30x P/E discount for 2029.
CICC maintains its "Outperform" rating on Suzano SA ADR (SUZ.N) with a target price of $11.6.
3Q25 results fell short of expectations, mainly due to declining pulp prices and the appreciation of the Brazilian real. The company responded to market pressure by reducing production and raising prices, and continued to optimize cost control, reiterating its target of reducing cash costs to 746 reais/ton by 2027. Although pulp prices are under pressure in the short term, the company's long-term profitability resilience remains promising thanks to its global lowest cost advantage.
CICC maintains its "Outperform" rating on Take-Two Interactive Software Inc (TTWO.O) with a target price of $272.
Subscription revenue and profit in 2QFY26 significantly exceeded expectations, primarily driven by strong growth in NBA 2K26 and mobile platforms. Although GTA 6 was delayed to November, leading to a slight downward revision of FY27 sales forecasts, the better-than-expected performance of core businesses supported overall profitability. Non-GAAP net profit was revised upward by 28%, suggesting potential for increased operating leverage. The current share price corresponds to a FY27 P/E ratio of 33x, with a target price of $272 implying an 8% upside.
CICC maintains its "Outperform" rating on Unity Software Inc (UN):
The company's Q3 2025 revenue reached $471 million, a 5% year-over-year increase, with both creation and growth businesses exceeding expectations. Adjusted EBITDA increased by 20% year-over-year. Benefiting from high growth in the ad network and the implementation of the developer data framework, the company is expanding from creation tools to games. Empowering platform transformation and expanding cross-platform commerce opens up long-term growth potential. We have raised our 2026 net profit forecast by 5.3%, optimistic about its ecosystem integration potential.
CICC maintains its support for Petrobras (PBR.N) Outperform rating, target price $16:
3Q25 results met expectations, with production reaching a record 3.114 million barrels per day. Accelerated release from pre-salt oil fields supported profitability resilience. Despite a 13.9% year-on-year decline in oil prices, upstream profits increased by 30% quarter-on-quarter, and free cash flow rose 44.2% quarter-on-quarter to $4.97 billion. Increased CAPEX is driving continued production growth, and the EV/EBITDA valuation is attractive. The target price corresponds to 3.0 times 2025 earnings, representing an upside of 24.4%.
Huachuang Securities maintains its view on Advanced Micro Devices (AMD). (AMD.O) Buy rating:
Q3 2025 revenue reached $9.2 billion, a 36% year-over-year increase, with both data center and client business hitting record highs. Non-GAAP EPS was $1.20, and free cash flow reached $1.5 billion. Strong demand for the MI350 GPU and cooperation with OpenAI are expected to contribute over $100 billion in revenue. We are optimistic about AI-driven long-term growth, but are concerned about export controls and competition risks.
First Shanghai maintains its Buy rating on Advanced Micro Devices (AMD.O) with a target price of $300.00.
Q3 2025 revenue and profit both exceeded expectations, with AI GPUs securing orders from major clients such as OpenAI, leading to an upward revision of full-year sales guidance to $7 billion. The new generation EPYC processor saw both volume and price increases, with continued expansion of its client market share. Benefiting from increased AI capital expenditures by cloud vendors, revenue is projected to grow at a CAGR of 52.4% from 2025 to 2027, with a Non-GAAP net profit CAGR of 75.2%. The DCF valuation corresponds to a 2026 PE ratio of 42.6x, and the target price of $300 represents a 17% upside.
China Merchants Securities (Hong Kong) maintains its position on Duolingo. (DUOL.O) Overweight rating, target price $347:
The company's Q3 2026 results exceeded expectations, with strong growth in revenue, bookings, and profit, and impressive user metrics. Although slightly lower short-term guidance led to a share price pullback, the company's AI-driven cost optimization and commercialization potential remain strong. With a strategic focus on user growth and experience upgrades, its long-term competitiveness is solid, and its current valuation is attractive.
Huatai Securities maintains its "Overweight" rating on Duolingo (DUOL.O) with a target price of $328.82.
Q3 2025 revenue and profit exceeded expectations, with MAU/paying users increasing by 20%/34% year-on-year, and AI-driven cost reduction boosting gross margin. Although Q4 booking growth guidance is low, the company's focus on user growth strategy, product iteration, and increased marketing efforts are expected to drive long-term growth. Based on a 2026E PE ratio of 41.67x, we lower our target price to $328.82.
CICC maintains Ferrari's (RACE.N) Outperform rating, target price $490:
3Q25 results exceeded expectations, benefiting from a superior product portfolio and high customization demand. The company adheres to a value-first strategy, demonstrating significant long-term growth potential. We maintain our 2025/26 earnings forecasts, with a target price corresponding to 28.3x 2025 EV/EBITDA, representing an 18.6% upside from the current share price. We are monitoring new model launches and macroeconomic risks.
CITIC Securities Maintain Google-A (GOOGL.O) Buy rating:
Benefiting from the recovery in advertising demand and the accelerated commercialization of AI, the growth rates of search, YouTube advertising, and cloud businesses have rebounded. AI Overview, TPU orders, and the expansion of Google Cloud's major customers are driving increased revenue visibility. Cloud revenue is expected to grow by 40%+ from 2025 to 2027, with cost optimization supporting improved profit margins and strong long-term growth momentum.
Guohai Securities Huami Technology (ZEPP.N) Buy rating:
Q3 2025 revenue reached US$75.79 million, a year-on-year increase of 78.5%. Non-GAAP operating profit returned to profitability, mainly due to the ramp-up of new products and product structure optimization. Gross margin improved to 38.2%, and R&D and sales expenses were well controlled. We are optimistic about the cost-effectiveness of our own brands and peak season demand overseas, and expect revenue CAGR of 38.3% from 2025 to 2027, with continued improvement in net profit.
Huatai Securities maintains Carmeco (CCJ.N) Overweight rating, target price $105:
The expansion of US data centers exacerbates power shortages, elevating the strategic importance of nuclear power. Policy support and $80 billion in financing reinforce Westinghouse's growth expectations. The global nuclear power market is booming, and Japan's energy policy is catalyzing spillover demand. With stable uranium prices and consistent EBITDA contributions from Westinghouse, significant earnings elasticity is expected in 2026, leading to an upward revision of the valuation premium and a higher target price.
CITIC Securities maintains its position on KLA-TEX. (KLAC.O) Overweight rating, target price $1350:
The company's FY2026Q1 results and guidance exceeded expectations, benefiting from HBM process control demand and DRAM customer capacity expansion, with memory revenue expected to grow significantly. Despite the normalization of demand in the Chinese mainland market, the company's semiconductor... Its leading position in quality control is solidified, and it will benefit from the rapid development of advanced packaging. We raise our FY2026 target price to $1350, reflecting its long-term growth potential and industry leadership.
China Merchants Securities maintains its support for Western Data. (WDC.N) Buy rating:
FY26Q1 revenue and gross margin both exceeded expectations, with cloud business revenue increasing by 31.48% year-on-year, driven by strong demand for nearline drives. The increased proportion of high-capacity drives further improved ASP and gross margin. The company guided for a further increase in gross margin to 44%-45% in Q2, and revised the CAGR of EB storage capacity upwards to nearly 23%, benefiting from long-term demand from data centers and the ramp-up of ePMR/HAMR technologies.
Huatai Securities maintains Eaton (ETN.N) Overweight rating, target price $414.4:
The company's Q3 results met guidance, with data center orders up 70% year-on-year. The acquisition of PowerLeader's thermal management business strengthened its liquid cooling technology portfolio, and cooperation with Nvidia was deepened. Cooperation. We are optimistic about its "from chip to grid" solutions and its ability to secure orders from leading US companies. We project net profits of $5.03 billion and $5.66 billion for 2026 and 2027 respectively, and assign a 2026 PE ratio of 32x, raising our target price to $414.4.
CICC raises Yikehang's rating (EXPE.O) Upgraded to Outperform rating, target price $271:
3Q25 results exceeded expectations, with B2B bookings up 26% year-on-year and B2C recovery accelerating, with room nights up 11% year-on-year. Optimized cost control drove improved EBITDA margins, leading to an upward revision of 2025/26 earnings forecasts. The target price is based on 9x EV/EBITDA for 2026, reflecting profit potential and valuation shift space.
Guotai Haitong Maintain Uber (UBER.N) Overweight rating, target price $113:
The company's Q3 results exceeded expectations, with adjusted EBITDA reaching a record high. The company's ride-hailing and food delivery businesses are driving growth, enhancing its diversified monetization capabilities. Its collaboration with NVIDIA to advance the commercialization of Level 4 autonomous driving technology promises strong long-term growth. Based on a 4x PS valuation for 2026, the target price is $113.
BOCOM International maintains its position on NetEase Youdao (DAO.N) Buy rating, target price $12.0:
3Q revenue is expected to increase by 2% year-on-year to RMB 1.603 billion, driven by AI and new clients in the advertising and high school businesses, with strong customer acquisition expected during the summer vacation. Although short-term investments will impact profits, the implementation of AI products will enhance long-term competitiveness, and learning services are expected to resume growth in 4Q.
(Article source: CLS)
