瑞银：升快手-W目标价至95.37港元 重申“买入”评级

Core Viewpoint - UBS reports that Kuaishou-W (01024) spends approximately $120 billion annually on video content production, including movies, series, advertisements, and short videos. The firm anticipates that generative AI (genAI) will significantly transform the video production market, with a global total addressable market (TAM) for film genAI estimated between $11 billion and $23 billion, which is expected to provide a notable growth avenue for the company's domestic business. UBS has raised Kuaishou's target price from HKD 83.4 to HKD 95.37, maintaining a "Buy" rating [1]. Group 1 - Kuaishou's annual spending on video content production is approximately $120 billion [1] - UBS estimates the global film genAI TAM to be between $11 billion and $23 billion [1] - The introduction of genAI is expected to create a significant growth market for Kuaishou's domestic business [1] Group 2 - UBS has increased Kuaishou's target price from HKD 83.4 to HKD 95.37 [1] - The firm maintains a "Buy" rating for Kuaishou [1]