Gelonghui, November 21 - Yesterday, Kingsoft Cloud (KC.US) surged 42.27%, and today in pre-market trading it rose 1.38% to $6.62. According to a report from China International Capital Corporation, Kingsoft Cloud's third-quarter revenue increased by 16% year-on-year to 1.89 billion yuan, meeting market expectations; adjusted EBITDA reached 0.185 billion yuan, significantly surpassing market expectations due to effective cost and expense management. The firm maintains a "outperform industry" rating; considering the optimization of the company's business structure and a more optimistic growth and profitability outlook, it raised the target price by 8% to $6.5. CICC also raised its revenue forecasts for the company's 2024 and 2025 fiscal years by 1% and 6%, respectively, and increased the adjusted net profit forecast by 64 million and 100 million yuan to reflect strong growth in AI business. The firm raised the target price from $3 to $5.5 and maintained an "outperform market" rating. Additionally, Bank of America Securities expressed optimism about the increase in AI business revenue, the adjustment of the enterprise cloud project portfolio, and the noticeable effectiveness of cost control measures, predicting that the gross margin in the fourth quarter will further improve year-on-year. Based on the rapid expansion of the AI business, Bank of America raised Kingsoft Cloud's revenue forecasts for 2024 to 2026 by 4% to 8%. (Gelonghui)