- U.S. Tiger Securities analyst Bo Pei upgraded the China Internet Sector to Outperform from Neutral.
- Pei sees the sector's significant risks already reflected in the current valuation.
- Both China and the U.S. have recently indicated making positive progress towards a mutually acceptable solution regarding stock listings.
- Related Content: JPMorgan Downgrades Alibaba and Other China Tech Stocks Following Selloff; Calls It "Uninvestable" For Next 6-12 Months
- China also indicated regulatory stability. The Chinese stocks trading in the U.S. include Alibaba Group Holding Ltd BABA, JD.com Inc JD, and Baidu Inc BIDU.
- Price Action: BABA shares traded higher by 26.40% at $97.03 on the last check Wednesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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