Alibaba, Trip.com Top Picks at Mizuho in Chinese Internet Space

Seekingalpha2023-11-14

Alibaba (NYSE: BABA) and Trip.com (NASDAQ: TCOM) were top picks by Mizuho Securities in China's internet arena but the firm trimmed price targets on some stocks, including that of Alibaba, to reflect ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2383030254?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2023-11-14 10:14","share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","id":"2383030254","market":"us","top_or_hot":-1,"title":"Alibaba, Trip.com Top Picks at Mizuho in Chinese Internet Space","media":"Seekingalpha","content":"<div>\n<p>Alibaba (NYSE: BABA) and Trip.com (NASDAQ: TCOM) were top picks by Mizuho Securities in China's internet arena but the firm trimmed price targets on some stocks, including that of Alibaba, to reflect ...</p>\n\n<a href=\"https://seekingalpha.com/news/4035582-alibaba-tripcom-top-picks-at-mizuho-in-chinese-internet-space\">Source Link</a>\n\n</div>\n","source":"seekingalpha","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Alibaba, Trip.com Top Picks at Mizuho in Chinese Internet Space</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAlibaba, Trip.com Top Picks at Mizuho in Chinese Internet Space\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-11-14 10:14 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/4035582-alibaba-tripcom-top-picks-at-mizuho-in-chinese-internet-space><strong>Seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Alibaba (NYSE: BABA) and Trip.com (NASDAQ: TCOM) were top picks by Mizuho Securities in China's internet arena but the firm trimmed price targets on some stocks, including that of Alibaba, to reflect ...</p>\n\n<a href=\"https://seekingalpha.com/news/4035582-alibaba-tripcom-top-picks-at-mizuho-in-chinese-internet-space\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4588","symbol_name":"碎股","start_time":0,"source_url":"https://seekingalpha.com/news/4035582-alibaba-tripcom-top-picks-at-mizuho-in-chinese-internet-space","article_id":"2383030254","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2383030254","pubTimestamp":1699928072,"columns":[],"sourceInfo":{"source_id":"seekingalpha","name":"Seeking Alpha"},"weMediaInfo":null,"summary":"Alibaba (NYSE:BABA) and Trip.com (NASDAQ:TCOM) were top picks by Mizuho Securities in China's internet arena but the firm trimmed price targets on some stocks, including that of Alibaba, to reflect mu","collect":0,"end_time":0,"defaultTopTitle":"seekingalpha.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"81024":"快手-WR","89618":"京东集团-SWR","89888":"百度集团-SWR","89988":"阿里巴巴-WR","BK4588":"碎股","BK4577":"网络游戏","BK4526":"热门中概股","LU0067412154.USD":"UBS (LUX) EQUITY FUND -  CHINA OPPORTUNITY \"P\" (USD) ACC","DADA":"达达集团","BK4122":"互联网与直销零售","LU1794554557.SGD":"Allianz All China Equity AT Acc H2-SGD","BK4503":"景林资产持仓","BK4575":"芯片概念","BK4207":"综合性银行","BK4502":"阿里概念","BK4108":"电影和娱乐","BK4571":"数字音乐概念","BK4142":"酒店、度假村与豪华游轮","09988":"阿里巴巴-W","09618":"京东集团-SW","LU0315179316.USD":"EASTSPRING INVESTMENTS ASIAN DYNAMIC \"A\" (USD) ACC","BK4077":"互动媒体与服务","09626":"哔哩哔哩-W","BK4565":"NFT概念","LU0651946864.USD":"贝莱德新兴市场股票收益A2","JD":"京东","BK4538":"云计算","TCOM":"携程网","BILI":"哔哩哔哩","TCEHY":"腾讯控股ADR","LU1051768304.USD":"贝莱德新兴市场股票收益A6","LU0359202008.SGD":"Blackrock China Fund A2 SGD-H","09961":"携程集团-S","LU1023057109.AUD":"BGF CHINA \"A2\" (AUDHDG) ACC","09888":"百度集团-SW","BIDU":"百度","BK4531":"中概回港概念","BK4534":"瑞士信贷持仓","LU0501845795.SGD":"瑞银大中华区股票基金P Acc SGD","BK4585":"ETF&股票定投概念","01024":"快手-W","LU0052756011.USD":"TEMPLETON GLOBAL BALANCED \"A\" (USD) INC","00700":"腾讯控股","TME":"腾讯音乐","BK4574":"无人驾驶","BK4558":"双十一","LU1267930227.SGD":"TEMPLETON GLOBAL BALANCED \"AS\" (SGD) ACC A","BK4535":"淡马锡持仓","LU1115378108.SGD":"Eastspring Investments - Global Emerging Markets Dynamic AS SGD","IE0008368742.USD":"首域中国增长基金I Acc","SG9999002463.SGD":"LionGlobal China Growth SGD","BABA":"阿里巴巴","LU0572944931.SGD":"Janus Henderson Horizon China Opportunities A2 SGD","LU1720050803.USD":"安联全方位中国股票基金","LU0128525689.USD":"TEMPLETON GLOBAL BALANCED \"A\"(USD) ACC"},"translate_title":"阿里巴巴-SW，瑞穗在中国互联网领域的最佳选择","themeId":"fa15f917602042188480c98c024dba5b","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"81024":1.1,"89618":1.1,"89888":1.1,"89988":1.1,"01024":1.1,"TME":1.1,"TCOM":1.1,"TCEHY":1.1,"JD":1.1,"DADA":1.1,"BILI":1.1,"BIDU":1.1,"BABA":1.1,"00700":1.1,"09618":1.1,"09626":1.1,"09888":1.1,"09961":1.1,"09988":1.1},"content_text":"Alibaba (NYSE: BABA) and Trip.com (NASDAQ: TCOM) were top picks by Mizuho Securities in China's internet arena but the firm trimmed price targets on some stocks, including that of Alibaba, to reflect multiple compression from weaker macro.Mizuho's analysts said that industry data showed uncertain macro recovery with mixed retail sales, weak RE market activity and low consumer confidence. However, travel remained a bright spot, and they expect that the pent-up demand for outbound travel and expanding flight capacity to support growth going forward.At the same time, the analysts expect the Singles Day shopping festival, also known as the Double 11, annual sales event to provide near-term relief for ecommerce due to deep discounts and the resulting price elasticity.With this in mind, the analysts' top pick is Trip.com (TCOM) due to the rising demand for outbound travel. They also think Alibaba's (BABA) setup is positive, and it is also a top pick, as they expect good execution in price matching and improving monetization in advertising.According to a report from Reuters, Alibaba said it saw year-over-year growth across this year's Singles Day sales period which ended on Nov. 11, while rival JD.com (JD) reported sales volumes at a record high.Data provider Syntun, estimated that cumulative gross merchandising volume, or GMV, sales across major e-commerce platforms grew 2.08% to 1.14T yuan ($156.40B) versus growth of 2.9% last year, the report.Mainly, the Singles Day festival in China, which is 24-hour online shopping event held every year, has expanded into weeks of promotions across the Asian nation's major e-commerce platforms and offline stores.For Alibaba (BABA), Mizuho's analysts expect demand to rebound from Double 11 with improved monetization. They expect CMR (customer management revenue) growth to rebound in December-quarter from 4% year-over-year to 8% due to good execution of price matching and new advertising products to improve monetization.In addition, the analysts said that BABA is a compelling idiosyncratic story with upcoming listings of its subsidiaries, which could steer incremental shareholder value. They believe the setup is positive into the quarter.The firm maintained its Buy rating on Alibaba but lower the price target to $120 from $145 due to multiple compression from weaker macro.Trip.com (TCOM): Mizuho maintained Trip.com as its top pick for China internet and kept a price target of $55. The analysts expect Trip.com TCOM to gain share and scale economies, backed by strong travel demand in the summer quarter.With volume and pricing accelerating, they believe Trip.com (TCOM) is best positioned given further recovery of outbound travel, improvements in airline capacity and easing policy.JD.com (JD): The analysts anticipate ongoing inventory optimization, restructuring and price matching to further delay the revenue recovery, with low single-digit top-line growth for the second half of 2023.The firm retained its Buy rating on JD but reduced the price target on the stock to $40 from $60 on near-term business adjustment headwinds.Baidu (BIDU): The analysts look for Baidu to show progress in advertising recovery, benefiting from services consumption. However, the Cloud business is facing headwinds from reduced public-sector spending and tough comps. The analysts maintained their Buy, but lowered the price target to $140 from $170 due to weaker macro and U.S.-China tech rivalry.Tencent (OTCPK:TCEHY) (OTCPK:TCTZF): For Tencent, the analysts expect positive performance from advertising due to increased traction with Video Accounts. They also look for online games to recover due to the less-restrictive policies.The analysts maintained Neutral rating on the stock but cut the price target to $325 from $375 due to compressed industry multiples.Bilibili (BILI): The analysts expect in-line results steered by new game launches during the seasonally strong summer quarter. At the same time, they anticipate to see additional progress on profitability driven by continued cost controls and efficiency gains. The firm maintain a Buy rating and $18 price target on the shares.Tencent Music Entertainment (TME): Mizuho maintained a Buy rating on Tencent Music and lowered the price target to $10 from $11 on revised FY25 EBITDA estimates. The analysts anticipate Tencent Music to deliver in-line Q3 results, but they lowered the FY24 entertainment segment estimates due to perceived strategy changes.Dada Nexus (DADA): The analysts expect mix shift to services and overall weak consumer sentiment to challenge near-term growth, pushing the annual breakeven milestone to FY'24. The firm maintained a Buy rating on Dada on 20%+ revenue growth in FY24 but slashed the price target to $7 from $10 on the shares on lower industry multiples.Kuaishou (OTCPK: KSHTY) (OTCPK: KUASF): Mizuho maintained its Buy rating and HK$85 price target on Kuaishou's stock. The analysts anticipate continued share gains in ecommerce and advertising driven by content+commerce solutions. This translates into revenue growth in line, but upside in profitability, according to the analysts.Alibaba (BABA) has a Strong Buy rating at Seeking Alpha's Quant Rating system, which consistently beats the market. Meanwhile, the Seeking Alpha authors' average rating is Buy and the average Wall Street analysts' rating is Strong Buy.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":2,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2383030254"}