Kingsoft Cloud price target lowered to $3.40 from $6.10 at Jefferies

Jefferies lowered the firm’s price target on Kingsoft Cloud to $3.40 from $6.10 and keeps a Buy rating on the shares. The firm estimates total revenue to grow 5% quarter-over-quarter in Q4 and forecasts total revenue to increase slightly, by about 1% quarter-over-quarter, in Q1, the analyst tells investors in a preview.