- QuantaSing Group Limited (QSG, Financial) hits a 52-week high after Citigroup's upgrade.
- Citigroup's target price increased by 56% due to strategic shifts and high gross margins.
- Analysts set an average price target of $8.01, suggesting potential price adjustments.
QuantaSing Group Limited (NASDAQ: QSG) has maintained its remarkable momentum, achieving a new 52-week high. This marks the third consecutive day of gains, spurred by Citigroup's recent upgrade to a "Buy" rating. The financial institution cited QuantaSing's strategic pivot towards a product-focused model, impressive expansion in new ventures, and a notable gross margin of 84% for its WAKUKU brand as key drivers for this upgrade. In light of these factors, Citigroup has elevated the target price by 56% to $9.52, underlining expected market achievements and heightened demand in the designer toy sector.
Wall Street Analysts Forecast
Analyzing the one-year price targets provided by three analysts, QuantaSing Group Ltd (QSG, Financial) garners an average target price of $8.01, with the highest estimate at $9.52 and the lowest at $7.00. This average target indicates a potential downside of 14.64% from its current price of $9.38. Investors looking for further detailed projections may refer to the QuantaSing Group Ltd (QSG) Forecast page.
According to the consensus from one brokerage firm, QuantaSing Group Ltd's (QSG, Financial) average brokerage recommendation stands at 1.0, categorizing it as a "Buy." The rating system ranges from 1 to 5, where 1 represents a Strong Buy and 5 denotes a Sell.
