Kingsoft Cloud Weighs Dual Listing In Hong Kong As China's Geopolitical, Regulatory Risks Trigger Industry-Wide Selloff - Kingsoft Cloud Hldgs (NASDAQ:KC)

China's leading cloud service provider Kingsoft Cloud Holdings Ltd KC, weighed a dual listing of its shares on the Hong Kong Stock Exchange.
Analyst Rating: JPMorgan analyst Alex Yao downgraded Kingsoft to Underweight from Neutral with a price target of $3.50, down from $8 (17.7% upside).
Yao found the China internet sector is unattractive on a 6-12 month view as the global investors priced in China's geopolitical risks and incremental concerns about regulatory risks.
Speculative growth names like Kingsoft tend to have higher beta than the sector average, given their higher-risk, more aggressive growth assumption and uncertain prospects.
He saw the group to "generally suffer more than larger and more proven Internet names during the sell-off."
Price Action: KC shares traded higher by 23.50% at $3.17 on the last check Tuesday.