Shares of Kingsoft Cloud Holdings Ltd (KC) soared 5.61% on Friday, buoyed by an analyst upgrade from UBS.
UBS upgraded the cloud computing company to a Buy rating and set a $12.50 price target on the stock, citing improved profitability outlook and strong growth prospects. This bullish call from the investment bank is seen as the primary driver behind KC's sharp rally on the day.
UBS analysts believe Kingsoft Cloud is well-positioned to capitalize on the rising demand for cloud services in China and the Asia Pacific region. They expect the company's focus on operational efficiency and cost optimization to boost profitability in the coming years, underpinning their Buy recommendation and $12.50 price target.
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