Tuya Inc (TUYA) PT Raised to $3.69 at Jefferies

Jefferies analyst Matt Ma raised the price target on Tuya Inc (NYSE: TUYA) to $3.69 (from $3.61) while maintaining a Buy rating.

The analyst commented, "In 4Q, rev +3% amid US tariffs, in line with JEFe; GPM was stable, NG OPM improved on op leverage, delivering the highest quarterly OP. Tuya further enriched its AI+IoT ecosystem by launching a to-C AI assistant, expanding developer platforms/tools supporting 1.8m developers and 16K agents, and fostering new AIoT use cases; it also adopted AI coding internally to shorten R&D cycle. Valuation at 12x 2026E ex-cash P/E and 0.7x PEG still attractive. Reiterate BUY."

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