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Morgan Stanley has reiterated its bullish stance on Chinese AI firm Tuya, encouraging investors to buy the stock ahead of the company’s earnings release on February 26. The investment bank raised its price target for Tuya from $2.30 to $3, citing strong growth prospects in the AI and Internet of Things (IoT) sectors.
Founded in 2014, Tuya offers a Platform as a Service (PaaS) for developers to build and manage AI and IoT technologies. Although it remains little known outside China, Tuya has shown significant growth, driven by the rise of Chinese AI app DeepSeek.
With a market capitalization of just $1.80 billion, Tuya is still considered a penny stock and a small-cap investment. Despite this, Morgan Stanley is optimistic about its future, particularly in the wake of its strong performance and potential to become a leader in Chinese AI.
While many Wall Street analysts avoid rating small-cap stocks like Tuya, its performance in the last three months speaks volumes. The stock has gained 89% over the past 12 weeks, indicating strong momentum.
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