Chinese companies are looking overseas for growth. Morgan Stanley says this is the stock to play the trend

A U.S.-listed Chinese company that makes most of its money overseas could soar more than 75%, according to Morgan Stanley's newly updated forecasts. Asia equity analyst Yang Liu and a team not only raised their price target on Tuya by 50 cents to $3.50 last Tuesday, but on Thursday issued a separate note saying they expect the beaten-down shares of the Chinese company to "rise in absolute terms over the next 60 days.

" More than 80% of Tuya's revenue comes from outside of China, while the domestic market's growth has slowed, the company said on last week's earnings call, according to a FactSet transcript. Management noted that Europe is Tuya's largest market at just over one-third of total revenue, followed by Asia Pacific. Latin America accounts for nearly 15% of revenue, the company said.

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

Chinese EV stocks surge as Morgan Stanley sees room for near-term gainsChinese EV stocks surge as Morgan Stanley sees room for near-term gains
Källa: Investingcom - 🏆 450. / 53 Läs mer »

Chinese EV stocks surge as Morgan Stanley sees room for near-term gainsChinese EV stocks surge as Morgan Stanley sees room for near-term gains
Källa: Investingcom - 🏆 450. / 53 Läs mer »

Morgan Stanley says these stocks show 'no sign of slowing down' into the summerMorgan Stanley named a slew of stocks it says every investor should own ahead of summer.
Källa: CNBC - 🏆 12. / 72 Läs mer »