Chagee Holdings Limited - Sponsored ADR (NASDAQ:CHA) Given Average Recommendation of "Hold" by Brokerages

Key Points

• Analysts have a consensus “Hold” rating on Chagee, with five holds, two buys and one sell among eight covering firms. The average 12-month price target is $14.68.
• Recent analyst sentiment has improved, including JPMorgan’s upgrade to “Overweight” and target increase to $16.00; Morgan Stanley maintains an “Overweight” rating with a $15.50 target, while CLSA initiated coverage with a $10.00 target.
• Chagee shares opened at $11.20, near their 50-day and 200-day moving averages, with a market capitalization of approximately $2.06 billion and a 52-week range of $8.98 to $24.22.

Shares of Chagee Holdings Limited - Sponsored ADR (NASDAQ:CHA - Get Free Report) have been assigned a consensus recommendation of "Hold" from the eight analysts that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and two have given a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $14.6833.

Several equities analysts have commented on the company. Zacks Research raised Chagee from a "strong sell" rating to a "hold" rating in a research report on Monday, June 1st. JPMorgan Chase & Co. upgraded Chagee from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $11.50 to $16.00 in a research report on Thursday, April 2nd. Weiss Ratings upgraded shares of Chagee from a "sell (d)" rating to a "sell (d+)" rating in a report on Wednesday, July 15th. Morgan Stanley restated an "overweight" rating and issued a $15.50 price target on shares of Chagee in a report on Friday, May 29th. Finally, CLSA assumed coverage on shares of Chagee in a report on Sunday, May 31st. They set a "hold" rating and a $10.00 price objective for the company.

Chagee Stock Performance

NASDAQ:CHA opened at $11.20 on Monday. The stock's fifty day moving average is $11.30 and its 200 day moving average is $11.04. Chagee has a fifty-two week low of $8.98 and a fifty-two week high of $24.22. The firm has a market capitalization of $2.06 billion, a PE ratio of 16.00 and a beta of 1.62.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CHA. Fosun International Ltd increased its position in Chagee by 19,295.0% during the 4th quarter. Fosun International Ltd now owns 7,447,088 shares of the company's stock valued at $86,610,000 after purchasing an additional 7,408,691 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in shares of Chagee in the 1st quarter worth approximately $427,000. JPMorgan Chase & Co. boosted its stake in shares of Chagee by 2,333.0% during the third quarter. JPMorgan Chase & Co. now owns 24,208 shares of the company's stock valued at $401,000 after purchasing an additional 23,213 shares in the last quarter. Squarepoint Ops LLC purchased a new position in Chagee during the fourth quarter valued at approximately $350,000. Finally, Balyasny Asset Management L.P. bought a new position in Chagee in the fourth quarter worth approximately $273,000.

Chagee Company Profile

Our Mission With every cup of our tea, we aspire to foster a global connection of people and cultures. Our Vision To modernize the tea-drinking experience through technology and innovation. Our Core Values “Customer First” is the foundational philosophy of how we make decisions and run our business. “Caring for Partners” is the core value that defines how we interact with consumers, franchise partners, suppliers, and employees. “Quality, Health, and Convenience” is the guiding principle of how we make our products.

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