Jefferies upgrades Chagee to buy and lifts ADR target price
Jefferies expects Chagee to post stronger earnings growth than previously forecast and upgraded the stock to buy, Market Talk reports.
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what happened
Analysts at Jefferies said in a research note that Chinese milk tea chain Chagee is likely to report faster earnings growth than previously expected. In their view, improving same-store sales in China strengthens confidence in the company's execution.
The analysts said: "We turn more constructive on long-term growth." As a result, Jefferies raised its net profit forecasts for 2027 and 2028 by 3% and 5%, respectively. The bank expects third-quarter results in late November to serve as a near-term catalyst.
Jefferies upgraded Chagee to buy from hold and raised its ADR target price to US$14.90 from US$11.80. The ADRs last traded at US$12.48.
why it matters
The news concerns a single company, but it shows how analysts view growth prospects in China's consumer sector. Earnings forecasts and bank rating changes often shape investor sentiment in the ADRs ahead of reporting.
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sources
- Chagee Expected to Post Stronger Earnings Growth — Market Talk, 21 October 2026 at 04:54 UTC
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