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13932 JPKSCLD@EC2605A (CALL)
RT Nominal down0.057 -0.003 (-5.000%)

05/02/2026 14:45

{I-bank focus}Nomura lowers Kingsoft Cloud (03896) to HKD8.5

[ET Net News Agency, 5 February 2026] Nomura lowered the target price for Kingsoft Cloud
(03896) to HKD8.5 from HKD9.2 and maintained the "buy" rating.
The research house said it cuts FY25-27F GPM by 4.6pp to reflect rising competition and
cost pressure. (rc)

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