Several stocks are set to benefit from the "relentless pursuit of eyeballs" in the Chinese internet sector, according to analysts at asset management firm AllianceBernstein.
Mini programs are apps within WeChat and have functions in areas such as e-commerce, task management, coupons, and so on.
Tech giant Alibaba was given a price target of $100, representing a 14.9% upside from its Sept. 18 close.
Kuaishou and Bilibili were given target prices of HK$70 and $16, representing 10.9% and 17.0% upside, respectively.
Outlook The analysts said the expansion of channels for spending could lead to accelerating growth in e-commerce penetration, though the extent of upside is "debatable."
Persons:
Robin Zhu, Ronald Ma, Xuan Ji, Xiaohongshu, AllianceBernstein, PDD, JD, — CNBC's Michael Bloom
Organizations:
Douyin, JD, Hong Kong, HK, Tech
Locations:
China, Pinduoduo