Morgan Stanley Lowered PT on Joint Stock Company (KSPI), Kept an Overweight Rating
Joint Stock Company Kaspi.kz (NASDAQ:KSPI) is one of the 10 Best 52-week Low Tech Stocks To Buy According to Analysts. On June 17, Morgan Stanley analyst Nida Iqbal lowered the firm's price target on Joint Stock Company Kaspi.kz (NASDAQ:KSPI) from $127 to $115, while keeping an Overweight rating on the stock.
The rating comes after the firm hosted an investor trip to Kazakhstan, Uzbekistan, and Turkey. The overall outlook of the firm on Joint Stock Company Kaspi.kz (NASDAQ:KSPI) remains positive, however, the firm has lowered its 2025 group net income forecast by 6%, mainly due to expected losses in Turkey. The analyst emphasized that patience is required as the company faces near-term headwinds.
A stock market graph. Photo by energepic.com
During the fiscal first quarter of 2025, Joint Stock Company Kaspi.kz (NASDAQ:KSPI) delivered a revenue of KZT685 billion, representing a 21% increase year-over-year, excluding Türkiye. Including Türkiye, the revenue reached KZT834 billion. Moreover, the net income excluding Türkiye increased 16% year-over-year to reach KZT260 billion. Whereas, when including Türkiye the net income drops down to KZT254 billion. Management noted that the results were broadly in line with their expectations.
Joint Stock Company Kaspi.kz (NASDAQ:KSPI) is a financial technology company based in Kazakhstan that offers a variety of digital services through its mobile app. The company operates through three main areas including Payment Platforms, Marketplace Platforms, and Fintech Platforms.
While we acknowledge the potential of KSPI as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money.
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