Chagee (NASDAQ:CHA) Coverage Initiated by Analysts at Citigroup

Analysts at Citigroup began coverage on shares of Chagee (NASDAQ:CHA - Get Free Report) in a report issued on Wednesday, MarketBeat reports. The firm set a "buy" rating and a $43.70 price target on the stock. Citigroup's price target would indicate a potential upside of 38.03% from the company's current price.

Several other brokerages have also commented on CHA. Morgan Stanley started coverage on shares of Chagee in a report on Monday. They issued an "overweight" rating and a $37.50 price objective for the company. Wall Street Zen raised Chagee from a "hold" rating to a "buy" rating in a research report on Wednesday, May 28th.

Chagee Stock Down 9.7%

CHA traded down $3.42 during midday trading on Wednesday, reaching $31.66. 2,408,595 shares of the company's stock traded hands, compared to its average volume of 1,688,052. Chagee has a 52 week low of $27.21 and a 52 week high of $41.80.

Chagee (NASDAQ:CHA - Get Free Report) last released its quarterly earnings results on Friday, May 30th. The company reported $0.54 earnings per share for the quarter. The company had revenue of $467.53 million during the quarter.

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.