JPMorgan Upgrades Chagee Holdings Limited (CHA) to Neutral but Lowers its Price Target to $11.50

Chagee Holdings Limited (NASDAQ:CHA) is among the 11 Newly-Listed NASDAQ Stocks to Buy Now.

On February 13, 2026, JPMorgan analyst Jessie Xu upgraded Chagee Holdings Limited (NASDAQ:CHA) to Neutral from Underweight and lowered the price target to $11.50 from $12.40 previously. Jessie Xu said the company is “approaching a pivot point” in 2026 following five consecutive quarters of same-store-sales declines. JPMorgan’s Jessie Xu also noted that the share price of Chagee Holdings Limited (NASDAQ:CHA) has fallen more than 60% from the IPO price of $28 and sees improved risk/reward at current levels, citing the new initiatives that could support a turnaround in 2026.

Earlier in the year, in January 2026, Jefferies initiated their coverage of Chagee Holdings Limited (NASDAQ:CHA) with a Hold rating and a $14 price target as part of their broader coverage of leading China freshly-made drink brands. Jefferies said that it still prefers Guming and Mixue (MXUGF) over Chagee Holdings Limited (NASDAQ:CHA) based on growth visibility within the group.

Chagee Holdings Limited (NASDAQ:CHA) owns, operates, and franchises teahouses under the CHAGEE brand in China and internationally, and sells tea drinks, raw materials, packaging, equipment, and related supplies.

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