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<Research>UBS Selects JD.com as Sector Top Pick w/ Higher TP at US$64, Raises TPs for TENCENT, Alibaba
Recommend 46 Positive 60 Negative 36 |
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Although short-term volatility is expected to remain in Chinese internet stocks, they will eventually return to fundamentals, UBS stated. As internet companies have moved past the heavy investment phase and are focusing more on shareholder returns, P/E ratios and EPS growth have become common valuation indicators for investors. The broker raised TPs for certain Chinese internet stocks by 11-49%, with stock picks in order being JD.com (JD.US), KUAISHOU-W (01024.HK), and Alibaba (BABA.US), followed by TENCENT (00700.HK), MEITUAN-W (03690.HK), Trip.com (TCOM.US), and TAL Education (TAL.US). Stock│Investment Rating│TP TENCENT (00700.HK)│Buy│$483→$580 Alibaba (BABA.US)│Buy│US$112→US$140 JD.com (JD.US)│Buy│US$43→US$64 Vipshop (VIPS.US)│Neutral│US$12.5→US$17.5 KANZHUN (BZ.US)│Neutral│US$16→US$18 iQIYI (IQ.US)│Neutral│US$2.4→US$2.72 Hello Group (MOMO.US)│Buy│US$7.48→US$8.3 AAStocks Financial News |
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