Wall Street's Most Accurate Analysts Reshuffled Their Best Chinese Internet Picks, Here They Are

Wall Street's Most Accurate Analysts Reshuffled Their Best Chinese Internet Picks, Here They Are

Investors are carefully monitoring Chinese tech stocks amid protests over COVID-19 restrictions. China's central bank last week loosened bank reserve requirements.

Wall Street analysts make new stock picks on a daily basis. Unfortunately for investors, not all analysts have particularly impressive track records at predicting market movements. Even when it comes to one single stock, analyst ratings and price targets can vary widely, leaving investors confused about which analyst's opinion to trust.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Here's a look at some of the big Chinese internet stocks from several analysts, according to Benzinga Analyst Stock Ratings.

 

Alibaba Group Holding Limited BABA

  • Truist Securities analyst Youssef Squali maintained a Buy rating on the company's stock on November 18, 2022, but lowered the price target from $125 to $120. Squali sees around 58% upside in the stock and has an accuracy rate of 68%.
  • Benchmark’s analyst Fawne Jiang reiterated a Buy rating on the company's stock on November 18, 2022, but cut the price target from $206 to $180. Jiang predicts the stock jumping over 137% and has an accuracy rate of 60%.
  • Recent News: The company recently reported mixed Q2 results.

 

Baidu, Inc. BIDU

  • Muzuho analyst James Lee maintained a Buy rating on the company’s stock on November 23, 2022, but lowered the price target from $200 to $180. Lee sees around 90% jump in the company’s stock and has an accuracy rate of 65%.
  • Citigroup’s analyst Alicia Yap maintained a Buy rating on the company’s stock on November 23, 2022, but slashed the price target from $169 to $166. Yap sees around 75% increase in Baidu’s stock and has an accuracy rate of just 36%.
  • Recent News: Baidu announced plan to build the world's largest fully driverless ride-hailing service area in 2023.

 

Pinduoduo Inc. PDD

  • Citigroup’s analyst Alicia Yap reiterated a Buy rating on the company’s stock on October 27, 2022, but lowered the price target from $83 to $79. This analyst sees over 6% rise in the stock and has an accuracy rate of just 36%.
  • Barclays analyst Jiong Shao upgraded rating on the stock from Equal-Weight to Overweight on October 27, 2022, and raised the price target from $66 to $70. Shao sees the stock dropping around 5%, but has an accuracy rate of only 30%.
  • Recent News: Pinduoduo reported better-than-expected Q3 results.

Posted In: Most Accurate AnalystsLong IdeasNewsPrice TargetPre-Market OutlookMarketsAnalyst RatingsTrading Ideas