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    9988   KYG017191142

ALIBABA GROUP HOLDING LIMITED

(9988)
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Delayed Hong Kong Stock Exchange  -  01:15 2022-06-27 am EDT
117.90 HKD   +3.51%
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J.P. Morgan upgrades Chinese internet stocks, expects uncertainties to abate

05/16/2022 | 08:30am EDT
FILE PHOTO: A logo of Tencent is seen during the World Internet Conference (WIC) in Wuzhen

(Reuters) - J.P. Morgan analysts upgraded the stocks of some Chinese internet companies on Monday and the brokerage expects "significant uncertainties" faced by the sector to abate.

China signaled an easing of its crackdown on the once-freewheeling tech sector last month as President Xi Jinping seeks to bolster the economy in the face of growth-sapping COVID-19 lockdowns.

The brokerage hiked the rating and price targets for stocks such as Alibaba Group, Baidu, Pinduoduo Inc and Bilibili.

"We expect early-cycle sectors such as digital entertainment, local service, and e-commerce to be the first batch of outperformers," Alex Yao, analyst at J.P. Morgan, said.

Earlier in March, the brokerage downgraded 28 Chinese internet stocks to "neutral" or "underweight", citing rising uncertainty from a regulatory crackdown and de-listing risks.

Chinese companies have also faced the brunt of supply chain bottlenecks due to the pandemic and strict lockdowns in some cities as the world's second-largest economy pursues a "zero-COVID" policy.

(Reporting by Tiyashi Datta in Bengaluru; Editing by Shounak Dasgupta)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ALIBABA GROUP HOLDING LIMITED 3.51% 117.9 Delayed Quote.-4.21%
BAIDU, INC. 3.57% 151.34 Delayed Quote.1.71%
BILIBILI INC. -0.14% 27.81 Delayed Quote.-40.06%
PINDUODUO INC. 2.69% 65.96 Delayed Quote.13.14%
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Analyst Recommendations on ALIBABA GROUP HOLDING LIMITED
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Financials
Sales 2022 850 B 127 B 127 B
Net income 2022 80 475 M 12 030 M 12 030 M
Net cash 2022 402 B 60 070 M 60 070 M
P/E ratio 2022 26,0x
Yield 2022 -
Capitalization 2 105 B 315 B 315 B
EV / Sales 2022 2,00x
EV / Sales 2023 1,89x
Nbr of Employees 254 941
Free-Float 97,6%
Chart ALIBABA GROUP HOLDING LIMITED
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Alibaba Group Holding Limited Technical Analysis Chart | MarketScreener
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 43
Last Close Price 786,80 CNY
Average target price 1 028,48 CNY
Spread / Average Target 30,7%
EPS Revisions
Managers and Directors
Yong Zhang Executive Chairman & Chief Executive Officer
John Michael Evans Independent Director
Hong Xu Chief Financial Officer
Li Cheng Chief Technology Officer
Pan Hua Xu Senior Investment Manager
Sector and Competitors
1st jan.Capi. (M$)
ALIBABA GROUP HOLDING LIMITED-4.21%314 634
ALIBABA GROUP HOLDING LIMITED-0.98%314 634
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PINDUODUO INC.13.14%83 399
SHOPIFY INC.-72.03%48 594
MERCADOLIBRE, INC.-45.16%37 253