Morgan Stanley Lifts MINIMAX Target, Fueling 19% Stock Climb

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·Mar 03 2026, 03:14

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Key Takeaways

Morgan Stanley boosted its price target on MINIMAX-WP to HKD 990, citing strong revenue performance that triggered a sharp market rally. The stock climbed over 19% as the company surpassed key revenue milestones, with management signaling further acceleration from its upcoming M3 product line.

Morgan Stanley raised its price target for MINIMAX-WP to HKD 990 from HKD 930, reaffirming an "Overweight" rating on the stock.
The stock surged 19.003% after the company's annual recurring revenue (ARR) exceeded USD 150 million by February 2026.
Future growth is expected from the M3 product series, launching by the first half of 2026, targeting office automation and generative media.

Morgan Stanley Lifts Target to HKD 990 as Revenue Milestone Is Surpassed

Morgan Stanley raised its price target for MINIMAX-WP (00100.HK) to HKD 990 from HKD 930, reaffirming its "Overweight" rating on the company. The investment bank's analysis included a bull case target of HKD 1,240 and a bear case of HKD 300, reflecting confidence in the company's growth trajectory.

The upgrade was driven by MINIMAX achieving an annual recurring revenue (ARR) of over USD 150 million by February 2026. This performance indicates strong early adoption and successful monetization of its product offerings, reinforcing the bank's positive outlook.

MINIMAX Targets 'Super PMF' in 2026 with New M3 Series

MINIMAX's management stated an ambition to achieve a "super product-market fit" (PMF) in 2026. The strategy hinges on advancing its capabilities in programming, office automation, and multimodal generation to capture a larger share of the market.

Central to this plan is the M3 series of products, which are scheduled to launch by the first half of 2026. The company anticipates these new offerings will significantly accelerate ARR growth for the year. Revenue growth is expected to be led by its open platforms and generative media segments, which are projected to become the primary earnings contributors.

Shares Climb 19% on Analyst Confidence

Investors reacted decisively to the optimistic analyst report, sending MINIMAX-WP shares soaring. The stock gained HKD 143.00, marking a 19.003% increase in a single session. This price action occurred alongside significant short interest, with short selling volume recorded at $194.47 million, representing a ratio of 13.596% as of March 2, 2026.