CICC Research Begins Coverage on Chagee (NASDAQ:CHA)

CICC Research initiated coverage on shares of Chagee (NASDAQ:CHA - Free Report) in a research note released on Friday morning,Benzinga reports. The brokerage issued an outperform rating and a $41.50 target price on the stock.

A number of other research analysts have also weighed in on the stock. Morgan Stanley assumed coverage on shares of Chagee in a research note on Monday, June 2nd. They issued an "overweight" rating and a $37.50 price target on the stock. Citigroup assumed coverage on shares of Chagee in a research report on Wednesday, June 4th. They issued a "buy" rating and a $43.70 price objective on the stock. Finally, Wall Street Zen raised shares of Chagee from a "hold" rating to a "buy" rating in a research report on Wednesday, May 28th.

Chagee Stock Up 0.5%

CHA traded up $0.17 during trading on Friday, reaching $32.75. The company had a trading volume of 1,275,714 shares, compared to its average volume of 1,651,180. Chagee has a 12 month low of $27.21 and a 12 month high of $41.80.

Chagee (NASDAQ:CHA - Get Free Report) last announced 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.