The following are the latest ratings and target prices for US stocks from various brokerage firms:
Morgan Stanley Maintain JB Hunter Transportation Service (JBHT.O) Neutral rating, target price 172:
Analysts believe the company's fundamentals are stable, but recent growth momentum has weakened, and the lowered target price reflects short-term operational pressures. Despite robust demand for supply chain solutions, freight rates in the trucking market are under pressure, impacting expectations for profit margin expansion.
CITIC Securities Maintain Buy rating on Atlassian Corp-A (TEAM.O) with a target price of $245.
FY26Q1 affected by data centers Despite the production halt, cloud migration is progressing steadily, and cloud revenue is projected to increase by 22.5% in FY2026. Market concerns about AI impacting development roles have been mitigated by recruitment data and business feedback, indicating no substantial impact. The company's integrated DevOps platform technology offers significant advantages, and long-term growth prospects are promising.
CITIC Securities maintains its buy rating on Datadog Inc-A (DDOG.O):
FY25Q3 results significantly exceeded expectations, with continued improvement in profitability. The number of major clients accelerated, platform product adoption increased, and new products such as logging and security performed exceptionally well. AI penetration reached 12% (YoY +6 percentage points), and the renewal of the largest AI-native client alleviated concerns about business continuity, driving long-term growth.
China International Capital Corporation We maintain our Outperform rating on Nebius Group NV-A (NBIS.O) with a target price of $110.
The company's Q3 revenue was $146 million, below expectations, mainly due to a net loss of $120 million caused by delays in computing power rollout and increased costs. However, core ARR reached $551 million, a 400% year-over-year increase, and the company secured a $3 billion order from Meta, and also partnered with Microsoft. The collaboration is expected to ramp up in 2026. We have lowered our 2025/26 earnings forecasts, and the target price corresponds to a 2026 P/S ratio of 10x, representing a 24% upside from the current price.
Haitong International maintains its strong performance. (ONON.N) Buy rating:
3QFY25 results exceeded expectations across the board, with net sales increasing by 24.9% year-on-year (34.5% at constant currency) and net profit attributable to shareholders surging by 289.8% year-on-year. Gross margin improved to 65.7%, with strong growth in D2C and the Asia-Pacific region, and the product portfolio and brand momentum continued to be released. The company significantly raised its full-year revenue, profit, and long-term growth guidance, reflecting its confidence in its operations. Inventory is healthy, cash flow is ample, and the company possesses the potential for continued growth.
CITIC Securities maintains its view on Baidu. (BIDU.O) Buy rating:
The company's AI technology continues to be implemented, with its mobile ecosystem and AI cloud synergizing through Wenxin's large-scale model and Kunlun chip, driving the intelligent upgrade of search. Robotaxi operations expansion strengthens its autonomous driving strategy. Despite short-term pressure on performance, the company's AI computing infrastructure and innovative businesses have not fully reflected their valuation and have the potential for revaluation.
China Merchants Securities (Hong Kong) Maintains Buy rating on Baidu (BIDU.O) with a target price of US$148.4:
Wenxin's Big Model 5.0 was released, accelerating the implementation of AI applications. Kunlun Chip's M100/M300 chips and Tianchi supernode plans are clear. Luobo Express's operational data is impressive, and global expansion is accelerating. Core advertising and cash reserves support the valuation, while progress in cloud, autonomous driving, and new AI businesses is expected to drive a valuation reassessment.
Guotai Haitong Maintain Hesai (HSAI.O) Overweight rating, target price $26.4:
The company's Q3 deliveries increased by 288.9% year-on-year, with record revenue and profit. GAAP net profit reached 256 million yuan, demonstrating robust profitability. The ADAS business benefited from the penetration of L3-level intelligent driving, increasing the value per vehicle; the robotics business... With Robotaxi orders ramping up and global customer expansion progressing smoothly, we raise our target price to $26.4 based on a FY2026E PS of 6.5x.
Guoxin Securities Maintain "Outperform" rating on Hesai (HSAI.O):
In Q3 2025, revenue reached 795 million yuan, a year-on-year increase of 47.5%, and net profit was 256 million yuan, achieving a turnaround from loss to profit. (LiDAR) Shipments reached 441,400 units, a year-on-year increase of 228.9%. In the ADAS sector, the company secured designated contracts from leading emerging players, and in the robotics sector, it won orders from multiple global autonomous driving companies. Gross margin improved to 42.1%, while expense ratio decreased significantly. Profit forecasts have been revised upwards, reflecting optimism about long-term growth potential.
China Merchants Securities (Hong Kong) gave Pfizer (PFE.N) Buy rating, target price $36.16:
Pfizer's non-COVID-19 business remained robust, with revenue growing 12% year-over-year in 2024. Despite patent expirations between 2025 and 2028, effective cost control led to an operating profit margin of 34.8%. Significant progress has been made in pipeline restructuring, with several pipeline products showing strong potential. The new pipeline is projected to contribute $44.2 billion in revenue by 2035. The DCF valuation corresponds to an adjusted PE ratio of 11.9x for 2025, resulting in a target price of $36.16 and a dividend yield of 7.1%, making it a worthwhile long-term investment.
Huayuan Securities We give Luckin Coffee (LKNCY.F) a buy rating:
The company is accelerating its store expansion, adding 2,109 stores in Q2 2025, with same-store sales growth of 13.4%, demonstrating sustainability. Digital operations are solidifying the customer base, with monthly average transacting users increasing by 32% year-on-year. Co-branded marketing and overseas expansion strategies are opening up growth opportunities, with a projected net profit CAGR of 28% from 2025 to 2027. The current PE ratio is lower than the average of comparable companies, highlighting its growth potential.
CITIC Securities maintains Cisco's (CSCO.O) Overweight rating, target price $90:
The company's FY2026Q2 guidance exceeded expectations, with AI orders reaching $1.3 billion and full-year AI revenue projected at $3 billion. This, coupled with the commencement of the campus network upgrade cycle, is driving growth in traditional businesses. Demand for AI infrastructure is strong. Based on comparable company valuations, we are raising our target price to $90.
CITIC Securities maintains its support for Tencent Music. (TME.N) Buy rating:
Q3 2025 revenue reached RMB 8.463 billion (YoY +20.6%), non-IFRS net profit was RMB 2.405 billion (YoY +32.6%), and net profit margin improved to 28.4%. Subscription business remained stable, with SVIP penetration and ARPPU continuing to grow. Non-monthly subscription services such as concerts and advertising performed strongly. We are optimistic about its increasing paid subscription rate and synergistic effects with the Tencent ecosystem.
Guoxin Securities maintains its "Outperform" rating on Tencent Music (TME.N):
Q3 2025 revenue increased by 20.6% year-on-year, and adjusted net profit increased by 27.7% year-on-year, with online music revenue accounting for 82%. Subscribers reached 126 million, ARPPU increased by 10.2% year-on-year, and SVIP growth was strong. Revenue from advertising, live performances, and other online music businesses increased by 50.5% year-on-year. Although offline investments put pressure on gross margin, the company's leading position remains solid, and expansion into the broader music ecosystem is promising.
CICC maintains its rating on FocalCore Technology. (RLX.N) Outperform rating, target price $2.9:
3Q25 results met expectations, with revenue up 49% year-over-year, non-GAAP net profit up 10.2% year-over-year, and gross margin improving by 4 percentage points year-over-year to 31.2%, benefiting from structural optimization and M&A contributions. The company holds a leading market share in domestic compliance, is advancing international integration, and is expanding its growth potential through external acquisitions. Net cash on hand is US$2.16 billion, increasing shareholder return potential. The target price reflects a 2025 P/E ratio of 24x, representing a 13% upside from the current price.
Guotai Haitong provides Yixian E-commerce (YSG.N) Overweight rating, target price $10.81:
The company benefited from the high growth of its skincare brands starting in the first half of 2025, resulting in a recovery in revenue and a return to profitability in non-GAAP earnings. Earnings per ADS are projected to be RMB 0.27/2.08/4.14 for 2025-2027, with a PE ratio of 37x and a PS ratio of 1.25x in 2026. Based on this, a target price of US$10.81 is given. With skincare products accounting for over half of its business and improved gross margins, the company has significant potential for net profit margin improvement in the medium to long term.
Huachuang Securities maintains its position on Applied Materials (AMAT.O) Buy rating:
The company's revenue and profit for FY2025 reached record highs, with semiconductors... Systems and services business grew steadily, while display business improved significantly. AI drives long-term computing power demand, with advanced processes, DRAM, and HBM becoming the core growth drivers. Although Q1 year-on-year growth was under pressure in the short term, industry capital expenditure is expected to rebound in 2026, with WFE growth expected to be low in the first half and high in the second half, supporting the company's medium- to long-term growth.
(Article source: CLS)
