ZTE Shares Surge Nearly 5% in Session Following Morgan Stanley Upgrade to Overweight

Deep News06-09

Shares of ZTE (HKEX: 00763) rose close to 5% during the trading session. At the time of writing, the stock was up 3.34%, trading at HKD 28.46, with a turnover of HKD 628 million.

Morgan Stanley released a research report upgrading its rating for ZTE's H-shares from Equal-weight to Overweight. The target price for the H-shares was raised from HKD 31.5 to HKD 39. The upgrade is primarily based on potential positive catalysts from artificial intelligence and a turning point in earnings growth. The firm also upgraded its rating for ZTE's A-shares (SZSE: 000063) from Underweight to Equal-weight, raising the target price from RMB 29.44 to RMB 34.3.

The report noted that on the edge device side, the company's collaboration around the "Doubao" AI assistant integrates agent, multimodal, and system-level AI capabilities into smartphones. Early demand indicators, such as the initial batch of products selling out, show strong market interest. The firm expects ZTE to deepen this collaboration, which could pave the way for broader commercialization of AI smartphones. This development may serve as a significant catalyst for market sentiment and valuation.

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