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"We also believe the demand for memories will remain strong thanks to the growing demand for generative AI and more broadly for compute," the bank's analysts wrote. AllianceBernstein expects the share price of Samsung to hit 92,000 Korean Won ($68.44) in the next 12 months, giving it potential upside of 29.4%. "BYD's unparalleled cost structure and vertical integration of powertrain will enable it to achieve a dominant market share in this segment," the bank's analysts wrote. AllianceBernstein's target price of 334 Hong Kong dollars ($42.71) gives it around 61.5% upside. AllianceBernstein gave the giant a price target of $170, giving it around 33% upside.
Persons: Bernstein, Ann Larson, AllianceBernstein, Tesla, Holdings AllianceBernstein, PDD, — CNBC's Michael Bloom Organizations: Street, Samsung Electronics, SK Hynix The South, Samsung, Won, SK Hynix, Hong, Holdings, PDD Holdings Locations: Asia, China, Hong Kong
ESG is "as crowded as ever," according to AllianceBernstein, which revealed "high conviction" stock ideas to play it. Here are some of their "high conviction" stock ideas to play the theme. 'High conviction' stock ideas AllianceBernstein likes German athletic apparel company Adidas for its "best-in-class" ESG credentials. They gave the firm an outperform rating at a price target of 151 Swedish krona ($13.83), which represents an upside of around 57%. American fast food chain Chipotle Mexican Grill was also given an outperform rating, and a price target of $2,300 – representing upside of around 26%.
Persons: Ann Larson, AllianceBernstein, ESG, — CNBC's Michael Bloom Organizations: Adidas Locations: North America, Europe, Asia, American, Swedish, U.S
No Chinese tech stock has generated as much excitement as Alibaba , one of the most recognizable names in the Chinese internet sector. More than 76% of analysts covering the stock rate it a "buy," giving it average upside of 31%, according to FactSet data. Kuaishou is rated buy or overweight by 94% of analysts covering the stock, who give it average upside of around 24.4%. It is rated buy by 88% of analysts covering it, and has average upside of 37.7%, according to FactSet data. Rounding off the list is food delivery giant Meituan , with average upside of 32.5%.
The recovery in Chinese stocks gained steam on Monday, as China's benchmark index came within striking distance of a bull market. Chinese stocks have been buoyed by Beijing's easing of Covid-19 restrictions and a waning regulatory crackdown. "We started the year with an overweight call on China, and while that is a consensus view, there are now concerns on China rally being too sharp/too quick. The extreme inflows in the past 3 months, indeed, pose a threat to the continuity of market rally for next 3 months," Bernstein analyst Rupal Agarwal wrote in a note on Jan. 27. Bernstein's screen for undervalued stocks that have underperformed the market rally tuned up a raft of names.
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