Chagee Holdings Limited – Sponsored ADR (NASDAQ:CHA) Receives $14.68 Average Price Target from Brokerages

Chagee Holdings Limited – Sponsored ADR (NASDAQ:CHA) has been given an average rating of “Hold” by the eight brokerages that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, five have given a hold recommendation and two have given a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $14.6833.

Several analysts have issued reports on the company. Wall Street Zen raised Chagee from a “hold” rating to a “strong-buy” rating in a report on Saturday, June 6th. Zacks Research raised Chagee from a “strong sell” rating to a “hold” rating in a research report on Monday, June 1st. JPMorgan Chase & Co. upgraded shares of Chagee from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $11.50 to $16.00 in a research note on Thursday, April 2nd. CLSA began coverage on shares of Chagee in a report on Sunday, May 31st. They set a “hold” rating and a $10.00 price target on the stock. Finally, The Goldman Sachs Group initiated coverage on shares of Chagee in a research report on Sunday, June 21st. They issued a “neutral” rating and a $13.60 price target for the company.

Institutional Investors Weigh In On Chagee

Hedge funds have recently made changes to their positions in the company. Fosun International Ltd raised its holdings in shares of Chagee by 19,295.0% during the 4th quarter. Fosun International Ltd now owns 7,447,088 shares of the company’s stock worth $86,610,000 after acquiring an additional 7,408,691 shares in the last quarter. Schroder Investment Management Group purchased a new position in shares of Chagee in the third quarter valued at $46,150,000. UBS Group AG increased its position in Chagee by 212.5% in the third quarter. UBS Group AG now owns 984,755 shares of the company’s stock worth $16,298,000 after purchasing an additional 669,583 shares during the last quarter. Marshall Wace LLP purchased a new stake in Chagee during the fourth quarter valued at $5,407,000. Finally, Jane Street Group LLC lifted its position in Chagee by 2,237.0% during the fourth quarter. Jane Street Group LLC now owns 439,640 shares of the company’s stock valued at $5,113,000 after purchasing an additional 420,828 shares during the last quarter.

Chagee Price Performance

NASDAQ:CHA opened at $11.39 on Thursday. Chagee has a one year low of $8.98 and a one year high of $28.88. The business has a fifty day moving average price of $11.13 and a 200-day moving average price of $11.11. The firm has a market capitalization of $2.09 billion, a price-to-earnings ratio of 16.27 and a beta of 1.62.

Chagee Company Profile

Our Mission With every cup of our tea, we aspire to foster a global connection of people and cultures. Our Vision To modernize the tea-drinking experience through technology and innovation. Our Core Values “Customer First” is the foundational philosophy of how we make decisions and run our business. “Caring for Partners” is the core value that defines how we interact with consumers, franchise partners, suppliers, and employees. “Quality, Health, and Convenience” is the guiding principle of how we make our products.