JPMorgan Chase raises its target price for Zhipu and lowers its target price for MiniMax

JPMorgan Chase has raised its target price for Zhipu (02513. HK) from HKD 2000 to HKD 2400, after previously raising it from HKD 1800 to HKD 2000 last Tuesday. Morgan Stanley analyst Olivia Xu pointed out that the funds from Zhipu's $400000 stock placement will alleviate the bottleneck of computing power supply. JPMorgan Chase has also lowered the target price of MiniMax (00100. HK) from HKD 300 to HKD 240 due to the equity dilution effect caused by the placement.