The following are the latest ratings and target prices for US stocks from various brokerage firms:
First Shanghai Securities News has given Circle Internet Group Inc-A (CRCL.N) a buy rating with a target price of 125.00.
As a leading compliant stablecoin company, it is moving towards blockchain technology. Transformation into a comprehensive financial platform. Short-term benefits include increased USDC circulation and interest rate differentials in a high-interest-rate environment; medium-term benefits include diversified platform service revenue and progress on the ArcChain; long-term focus is on RWA tokenization to build a global financial settlement layer. DCF valuation indicates significant upside potential for the stock price.
First Shanghai maintains its Buy rating on Hims & Hers Health Inc-A (HIMS.N) with a target price of $56.8.
The company's Q3 revenue increased by 49% year-over-year to $600 million, and adjusted EBITDA increased by 53% year-over-year. Its user base continued to expand, reaching 2.47 million subscribers. The company focuses on five key areas, including weight loss and sexual health, and is also expanding into women's health and longevity, with international expansion bringing incremental growth. Although short-term profit margins are under pressure, the long-term growth logic is clear, and the DCF model supports a target price of $56.8.
SPDB International maintains its Buy rating on Sea Ltd ADR (SE.N) with a target price of $190.
The company's Q3 2025 revenue and profit exceeded expectations; Shopee's GMV growth forecast was revised upwards to over 25%, driven by increased monetization through advertising revenue; Garena games... Revenue increased by 51% year-on-year, with strong performance from IP collaborations; Monee's financial business has great potential for expanding into new scenarios. Although short-term profit margins are under pressure, long-term competitiveness remains solid, and synergistic growth across various businesses is expected.
Huatai Securities We maintain our Buy rating on Sea Ltd ADR (SE.N) with a target price of $184.0.
3Q25 revenue and profit both exceeded expectations, with strong revenue growth across all three business segments and optimistic guidance for e-commerce GMV and net game bookings. Improved advertising monetization drove better e-commerce profit margins, electronic payment lending grew rapidly, and the number of paying game users increased significantly. Although the EBITDA forecast has been lowered, diversified growth momentum supports long-term competitiveness, and synergies and regional expansion are promising.
China International Capital Corporation We maintain our Outperform rating on Shopify Inc-A (SHOP.O) with a target price of $165.
The company's Q3 revenue for fiscal year 2025 reached $2.84 billion (YoY +32%), exceeding expectations, with non-GAAP earnings per share of $0.34. Subscription and merchant solutions revenue increased by 15% and 38% year-over-year, respectively. Benefiting from collaborations with Roblox, OpenAI, and others to expand virtual sales and AI channels, GMV increased by 27% year-over-year, with GPV penetration reaching 65%. We have raised our revenue forecasts for fiscal years 2025/2026, with a target price corresponding to a 2025 P/S ratio of 19x, reflecting the potential for market expansion.
China Merchants Securities (Hong Kong) Tencent Music (TME.N) Buy rating, target price $28.0:
3Q25 revenue and profit both exceeded expectations, with strong growth in the non-subscription music business. Online music revenue increased by 27% year-over-year, with SVIP driving ARPPU growth, and offline performances and advertising performing exceptionally well. Although future investments will put short-term pressure on gross margins, content investment is expected to drive long-term sustainable growth.
Huatai Securities maintains its view on Advanced Micro Devices (AMD). (AMD.O) Buy rating, target price $280:
The company released its long-term growth roadmap for 2030, projecting a revenue CAGR of over 35% over the next 3-5 years, focusing on data centers . AI business CAGR exceeds 80%. After-hours trading saw the CFO clarify a Non-GAAP gross margin target of 55-58%, with Non-GAAP EPS expected to surpass $20, boosting earnings expectations. We maintain our 2026 PS ratio of 8.5x, target price of $280, and reiterate our "Buy" rating.
CITIC Securities Maintain Hesai (HSAI.O) Buy rating, target price $29.87/ADS:
2025 Q3 revenue and profit both exceeded expectations, LiDAR Delivery volume surged 229% year-on-year, leading the ADAS market share, and Robotaxi order expansion proceeded smoothly. Driven by the implementation of L3, the integration of electric and gasoline technologies, and overseas expansion, net profit margin is expected to rise to 17.95% in 2026. The target price corresponds to a PE ratio of 40x in 2026, reflecting the certainty of the leading company's growth.
SPDB International maintains its Buy rating on Hesai Technology (HSAI.O) with a target price of US$28.0.
The company's Q3 revenue increased by 47% year-on-year, LiDAR deliveries surged by 229% year-on-year, gross margin reached 42.1%, and GAAP net profit exceeded the full-year target ahead of schedule. (ADAS and Robotics) With dual-engine growth in key areas and continued customer acquisition, high shipment growth is expected. DCF valuation shows a target P/E ratio of 39.5x for 2026, indicating clear long-term growth potential.
Huatai Securities maintains its buy rating on Hesai (HSAI.O) with a target price of $30.72.
The company's Q3 revenue reached RMB 795 million (YoY +47.5%), and GAAP net profit returned to profitability, benefiting from high growth in shipments of ADAS and robotic LiDAR . In the ADAS field, it secured L3-level orders, and in the Robotics field, customer expansion proceeded smoothly. Technological barriers supported gross margins. We maintain our 2026 PS ratio of 7.2x and raise our target price to US$30.72.
CICC maintains Huya (HUYA.N) Outperform rating, target price $4.6:
3Q25 revenue was largely in line with expectations. Live streaming business stabilized, while non-live streaming revenue increased by 30% year-on-year to RMB 530 million, benefiting from growth in advertising and in-game item sales. Pre-registrations for the first self-developed mobile game exceeded 10 million, with new business driving accelerated revenue growth. Although short-term profit concessions put pressure on profits, Non-GAAP profitability continued to recover, and gross margin and operating profit are expected to improve in 2026. We maintain our 2026 revenue forecast of RMB 7.2 billion, with a target price corresponding to 30x 2026 Non-GAAP P/E.
CICC maintains JD.com (JD.O) Outperform rating, target price $41:
3Q revenue and profit exceeded expectations, with strong growth in daily necessities driving retail performance. Non-GAAP net profit reached RMB 5.8 billion, with a narrowing year-on-year decline. JD Retail's OPM increased to 5.9%, and its supply chain advantages supported improved gross margins. Although Q4 profitability was under pressure due to the reduction in national subsidies and increased investment, losses in the food delivery sector narrowed, and long-term loss reduction in new businesses is expected. We have raised our 2025 net profit forecast to RMB 28 billion and maintained our 2026 forecast of RMB 38.2 billion, with a target price corresponding to a 2026 PE ratio of 11x.
CITIC Securities Granting US Internet Storage (NTAP.O) Buy rating, target price $128:
The company is a global leader in the all-flash array market, benefiting from increased SSD penetration and AI-driven growth in storage demand. It possesses a unified and secure ONTAP system and a complete product portfolio, and has exclusive partnerships with the three major North American public clouds, giving it a leading advantage in cloud storage. We expect steady growth in FY2026 revenue and assign a target price based on a combination of PE and PS methods.
CICC maintains Cisco's (CSCO.O) Outperform rating, target price $84:
The company's 1QFY26 results met expectations, with AI orders reaching $1.3 billion, and expected to double to $4 billion for the full year, exceeding market expectations. AI drove double-digit growth in data center orders, coupled with the start of the campus network upgrade cycle, leading to upward revisions to revenue and EPS guidance. With the upward revision of earnings forecasts and expectations of increased AI revenue, the valuation has been raised to 20x P/E for FY26E, and the target price has been adjusted to $84.
Everbright Securities Maintain Overweight rating on Tencent Music (TME.N):
3Q25 revenue and profit exceeded expectations, with non-subscription business contributing significantly to the increase. Online music revenue grew by 27.2% year-on-year, and SVIP drove ARPPU up by 10.2%. Although low-margin new businesses put pressure on gross margin, the diversified growth momentum is solid, and we are optimistic about the long-term monetization potential.
Huatai Securities maintains its Weibo account (WB.O) Buy rating, target price $14.74:
3Q revenue saw a slight year-over-year increase, dragged down by a high base in advertising. The company is advancing its multi-stream distribution strategy, combining "recommendation + following + trending topics," which has improved user engagement and increased video viewing time by 12%. Smart Search is planned for commercialization pilot in Q4, leveraging AI to empower the content ecosystem. Earnings forecasts for 2025-2027 have been lowered, with the target price adjusted to $14.74, corresponding to a 7.5x PE ratio for 2025, primarily due to liquidity discounts and slower growth. We are optimistic about AI-driven marginal improvements.
CITIC Securities gave Seagate Technology (STX.O) Buy rating, target price $330:
The company is a global leader in HDD (High-Density Display) and benefits from the surge in data volume driven by AI, leading to increased demand for cold data storage. Its HAMR (High-Voltage, Low-Voltage, High-Performance) technology is leading, and the industry's supply-demand imbalance is expected to continue into the second half of 2026. PE and P/FCF valuations support a target price of $330. We initiate coverage with a "Buy" rating.
CITIC Securities maintains Amazon (AMZN.O) Buy rating:
Amazon's AI business is showing signs of a turning point, with retail GMV, advertising, and fulfillment efficiency expected to continue improving, driving both revenue and profit margin growth. AWS is benefiting from strong demand from major clients and supply optimization, with AI revenue driving accelerated growth in its cloud business. The AI narrative reversal is expected to correct the valuation discount, highlighting its long-term growth potential.
(Article source: CLS)
