Excellent Earnings Propelled Prices of These 10 Firms

5. Kingsoft Cloud Holdings Limited (NASDAQ:KC)

Kingsoft extended its rally for a third consecutive day on Wednesday, jumping 9.42 percent to finish at $13.59 apiece after earning a positive rating from an investment company.

On Wednesday, Citi reaffirmed its Buy rating and price target of $21.50 on Kingsoft Cloud Holdings Limited (NASDAQ:KC). The price target represented a 58 percent upside potential from the company’s closing price on Wednesday.

According to Citi, the rating was based on the stock’s strong momentum, buoyed by the release of Xiaomi’s first Large Language Model, MiMo.

Investors had hoped that any developments in Xiaomi could spill over into the company, having been both chaired and led by businessman Lei Jun.

Citi also underscored that MiMo has already outperformed competitors such as OpenAI’s O1 mini and Alibaba’s Qwen-32 B-Preview in specific tasks like mathematical reasoning and code generation.