HSBC named six Chinese internet stocks it says to buy — predicting that each have upside of at least 27%.
HSBC's picks are "opportunities with good value," the analysts led by Charlene Liu said in a research note dated Sept. 1.
"PDD has the most promising but undervalued top-line growth … as a market share gainer domestically and internationally," the analysts said.
Tencent , with a 35% upside according to HSBC, "delivered a strong beat in ad revenue," the analysts said.
Short video app Kuaishou , a preferred stock for HSBC for its gains in advertising market share and mix of revenue streams, has a 39% upside, according to the bank.
Persons:
Charlene Liu, PDD, Pinduoduo, — CNBC's Michael Bloom
Organizations:
HSBC, Meituan, JD.com