Street Calls of the Week
Investing.com - Goldman Sachs has raised its price target on SenseTime Group Inc (HK:20) to HK$3.53 from HK$3.09 while maintaining a Buy rating on the stock.
The price target increase follows SenseTime’s latest project update showing new Gen-AI project wins from business and government clients across multiple sectors including education, healthcare, media, finance, and transportation.
Goldman Sachs expects SenseTime to see accelerated new projects ahead, driven by rising cloud capital expenditure spending in China, citing examples such as China Mobile’s order exceeding 1 billion yuan on AI inferencing solutions based on local chipset platforms.
The investment bank also noted the positive impact of "AI Plus" guidelines announced in August as a contributing factor to its optimistic outlook for the company.
SenseTime offers comprehensive AI solutions spanning computing power, large-scale AI infrastructure through SenseCore, AI foundation models via SenseNova 6.5, and various Gen-AI applications for both business and consumer markets, including Raccoon productivity AI and SenseMirage for AI painting.
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