Kingsoft Cloud Holdings (KC) Gets a Buy from Citi

Kingsoft Cloud Holdings (KC) Gets a Buy from Citi: Citi analyst Brian Gong maintained a Buy rating on Kingsoft Cloud Holdings on July 17 and set a price target of $18.00. The company’s shares closed last Friday at $9.54. According to TipRanks, Gong is ranked #12002 out of 12329 analysts, and the broader Street consensus remains Strong Buy. That consensus shows an average price target of $14.48, suggesting 51.78% upside from current levels. In a report released on July 16, Jefferies also maintained a Buy rating, with a $17.00 price target. Looking at fundamentals, Kingsoft Cloud’s latest earnings release for the quarter ending March 31 reported quarterly revenue of $2.7 billion and a GAAP net loss of $343.82 million. In the prior year period, revenue was $1.97 billion and the GAAP net loss was $313.93 million.