Key Takeaways:
- JPM raised its target 47% to HKD1,400 on GLM-5.2 model strength
- CICC lifted its target 39% to HKD1,250, citing coding leadership
- Stock surged 9% to HKD1,592, extending a two-day gain past 42%
Back
Knowledge Atlas surges 9% as JPM and CICC raise price targets
Knowledge Atlas shares rose 9% to HKD1,592 after JPMorgan and CICC raised price targets on its new GLM-5.2 coding model, extending a two-day rally past 42%.
"GLM-5.2 is the first domestic model to genuinely reach Claude-Opus 4.6-level performance, gradually widening the gap with other local peers," CICC analysts said in a June 15 report.
JPMorgan increased its target 47% to HKD1,400 from HKD950, while CICC raised its target 39% to HKD1,250 from HKD899 and maintained an Outperform rating. CMBI initiated coverage at Buy with a HKD1,503.9 target. The stock has surged more than 1,000% year-to-date since its Hong Kong listing in January.
The upgrades follow the June 13 launch of GLM-5.2, which expands context length to 1 million tokens from 200,000 and ranks first among domestic models in coding benchmarks. The API will be open-sourced under an MIT license in the third week of June, widening the competitive moat against domestic peers.
The stock opened 15% higher and touched an intraday peak of HKD1,620 before paring gains. Trading volume reached HKD1.78 billion, with short selling accounting for 4.1% of turnover at HKD331.6 million. The 52-week range spans HKD116.10 to HKD1,993.
The GLM-5.2 launch came days after Anthropic said its flagship models Fable-5 and Mythos-5 would not be available outside the US, creating an opening for Chinese AI firms. Knowledge Atlas responded by making GLM-5.2 fully accessible to all users under its GLM Coding Plan, covering Lite, Pro, Max and Team editions.
The company's coding capabilities have attracted institutional backing. WT Asset Management, a cornerstone investor in Knowledge Atlas, saw its China Focus fund return 103% in the first five months of the year, partly driven by the stock's rally, according to a source familiar with the matter.
The analyst upgrades signal confidence that Knowledge Atlas can sustain its lead in China's AI coding market. Investors will watch the open-source release later this month for developer adoption metrics that could drive further institutional inflows.
This article is for informational purposes only and does not constitute investment advice.
[1] KNOWLEDGE ATLAS (02513.HK) Jumps Over 9% Against Market as CICC and JPM Raise TP[2] Asia hedge funds notch triple-digit gains in AI-led rally - Reuters[3] Knowledge Atlas Tech (2513) Stock Forecast & Price Target[4] KNOWLEDGE ATLAS (02513.HK) Jumps Over 9% Against Market as CICC and JPM Raise TP - AASTOCKS.com[5] KNOWLEDGE ATLAS (02513.HK) Surges Over 30% as GLM-5.2 Fully Opened and Officially Open-Sourced - AASTOCKS.com
