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Amid China Internet confusion, Mizuho likes Alibaba and Baidu

Published 12/12/2018, 06:46 PM
Updated 12/12/2018, 06:46 PM
© Reuters. Amid China Internet confusion, Mizuho likes Alibaba and Baidu
  • With a cloudy view surrounding long-term prospects of Chinese Internet companies, Mizuho is banking on Alibaba (NYSE:BABA) and Baidu (NASDAQ:BIDU) to deliver long-term success.
  • Policy and macro headwinds make the picture hard to see. But: "In this defensive environment, we prefer names that are more resilient to economic slowdown and regulatory impact, or names with a turnaround potential overlooked by the Street," writes analyst James Lee. (h/t Bloomberg)
  • That means Alibaba, which Mizuho is assuming at Buy with a $200 price target (implying 32% upside), and Baidu, also a Buy with a price target of $220 (implying 22% upside).
  • He also started coverage of Ctrip.com (NASDAQ:CTRP), Tencent (OTCPK:TCEHY) and JD.com (NASDAQ:JD) at Neutral (in JD's case, down from a previous rating of Buy).
  • After hours: BABA +0.5%; BIDU +0.1%; CTRP flat; OTCPK:TCEHY +0.03%; JD +0.5%.
  • Now read: Baidu: No Google (NASDAQ:GOOGL) Threat


Original article

Latest comments

JD will bounce back, good chance to buy in at this price
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