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☆ Jack Ma is praising Alibaba. Wall Street is more cautious
▼ + stars: | 2024-04-14 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Alibaba shares got a boost last week from news founder Jack Ma is pleased with the company's turnaround so far. They cut their price target to $100 a share, down from $105 previously, while maintaining an overweight rating. Eddie Wu became CEO of Alibaba in September, and is also acting head of the cloud business. They cut their price target by $1 to $105 a share and maintained their buy rating. They have a price target of $85, and, in contrast to the many buy ratings, rate the stock equal weight.

Persons: Jack Ma, Joe Tsai, Ma, Alex Yao, Tsai, Nicolai Tangen, We've, Eddie Wu, Trudy Dai, Daniel Zhang, Kenneth Fong, Douyin, Nomura, Doubao, Ernie, Qianwen, monetization, Morgan Stanley, Gary Yu, — CNBC's Michael Bloom, Arjun Kharpal Organizations: CNBC, Wall Street, JPMorgan, Norges Bank Investment, Alibaba, Commerce, UBS, PDD Holdings, Norges Bank Investment Management Locations: China, U.S, Taobao, BABA

☆ China’s AI stocks are surging. Here are the names to watch
▼ + stars: | 2024-02-25 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +7 min

The investment analyst team led by Gary Yu has a $140 price target and overweight rating on Baidu's U.S.-listed shares. "We believe the current AI cloud integration between Galaxy AI and Ernie is just the first step," Yu said. For all the interest in AI stocks, China markets this year are still grappling with worries about whether Beijing is doing enough to support economic growth. They have a price target of 160 yuan on Shanghai-listed shares of Cambricon — upside of 12% from Friday's levels. They have a price target of 380 yuan on Shanghai-listed Kingsoft, up more than 50% from Friday's levels.

Persons: Morgan Stanley, Gary Yu, Yu, Ernie chatbot, Ernie, Fawne Jiang, Jiang, Baidu, Alex Yao, Yao, Geoffrey Hinton, Cade Metz, Hinton, Metz, it's, Sinodata, Microsoft didn't, EPFR, Bernstein, monetization Organizations: Bloomberg, Baidu, U.S, Huawei, Galaxy, Benchmark, JPMorgan China, Mavericks, Google, Facebook, Microsoft, Shenzhen Stock Exchange, Shanghai, China Equity Funds, Nvidia Locations: China, U.S, Shenzhen, Beijing, Shanghai

☆ Wall Street’s new e-commerce darling just overtook Alibaba in market cap — one analyst says it's a 'standout growth stock'
▼ + stars: | 2023-12-05 | by ( Sheila Chiang | ) www.cnbc.com time to read: +4 min

PDD's current market capitalization is nearly $190 billion, compared to Alibaba's market capitalization of $185.8 billion, LSEG data showed. PDD posted 94% growth in third-quarter revenue from a year earlier, far outpacing Alibaba's 9% growth during the same period. Analysts say that consumers increasingly looking for bargains in the face of economic uncertainties have helped boost PDD's growth domestically and internationally. "PDD's strong 3Q23 results imply both sustainable market share expansion of its domestic e-commerce business and strong growth momentum of ... Temu," they told clients. PDD "remains a standout growth stock" amid a broader base economic slowdown in China, wrote The Benchmark Company in a Nov. 29 report.

Persons: Morgan Stanley, PDD, Morgan Stanley Morgan Stanley, Eddy Wang, Kathy Zhu, Gary Yu, Temu's, Temu, Andre Chang, Alex Yao, Nancy Liu, Morningstar Morningstar, Chelsey Tam, Fawne Jiang, Long Lin Organizations: PDD Holdings, Investment, JPMorgan, Morningstar, Alibaba, PDD's Nasdaq, JPMorgan JPMorgan, China Internet, Morningstar Asia, Company Locations: China, 4Q23, U.S, Europe, Australia, New Zealand, Morningstar Morningstar Asia, Temu

☆ China’s version of Spotify is ‘underappreciated,’ Morgan Stanley says
▼ + stars: | 2023-12-03 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

Tencent Music Entertainment is convincing more people in China to pay for music. Because of the size of China's market, it's more than Spotify 's claim of 574 million monthly active users —across 184 countries and territories. TME's "music value [is] still underappreciated," Morgan Stanley analysts led by Alex Poon wrote in a late November report. "We see room for [TME] music revenue to double and profit to triple in the next three years," the Morgan Stanley analysts wrote, noting "limited risks from macro and competition." Revenue from music subscriptions is estimated to rise 38% in 2023 versus 2022, Morgan Stanley estimates.

Persons: That's, Morgan Stanley, Alex Poon, ADRs, TME, Alex Yao, Gross, JPMorgan's Yao, Tencent, — CNBC's Michael Bloom Organizations: Tencent, Entertainment, Spotify, Kugou Music, JPMorgan Locations: China, U.S, Tencent, 3Q23

☆ China's large language model development is like 'gold rush': Analyst
▼ + stars: | 2023-11-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDespite the AI regulation, China's large language model development is still like a 'gold rush'Alex Yao of JPMorgan expects consolidation in China's large language model development in the next 2-3 years. A stricter AI regulatory landscape is also likely given the social implications of the new technology.

Persons: Alex Yao Organizations: JPMorgan

☆ Alibaba shares could more than double in a 'blue sky scenario' after company split, JPMorgan says
▼ + stars: | 2023-03-29 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

It's time to snap up Alibaba shares as they could more than double in a "blue sky scenario" following the company split, according to JPMorgan. In fact, Yao's $210 price target on Alibaba's US-listed shares implies the stock has roughly 113% upside from Tuesday's closing price of $98.40. "Nonetheless, we believe Alibaba's reorganization could bring about more significant implication to business fundamentals and share price over the mid-to-longer term. We expect positive share price reaction to the reorganization announcement and our sum-of-the-parts (SOTP) valuation analysis indicates a US$210/HK$205 value per share as a blue sky scenario," Yao added. Alibaba shares are more than 14% higher in 2023, but they dropped by 25% in 2022, and by roughly 49% the prior year.

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