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Citibank has listed a favorite stock list for Chinese internet companies in the report titled "Major Moves".
Citigroup's forecast report on Chinese internet stocks in the first quarter of next year indicates the preferred picks: Stock│Investment Rating│Target Price Tencent (00700.HK)│Buy│573 Hong Kong dollars Meituan-W (03690.HK)│Buy│203 Hong Kong dollars Trip.com (TCOM.US)│Buy│73 US dollars jd.com (JD.US)│Buy│51 US dollars alibaba (BABA.US)│Buy│133 US dollars pdd holdings (PDD.US)│Neutral│125 US dollars netease (NTES.US)│Buy
Major bank rating | Citigroup: Maintains a positive outlook on Tencent, will include Trip.com and Meituan as core holdings.
Gelonghui, December 5 | Citigroup released a research report stating that in the fourth quarter of this year and heading into the first quarter of next year, they maintain a positive view on Tencent and include Ctrip and Meituan in their core holdings. The bank's preference ranking for e-commerce over the next two to three months will be jd.com, ali, and pdd holdings, considering the higher visibility of revenue and profit growth trends and the potential continuation of the exchange-for-new program. The bank also recommends adding netease and tencent music as defensive investment symbols, viewing full truck alliance as a choice for rapid growth, while ali pictures focuses on content. The bank stated that mainland internet plus-related companies are expected to exceed profit expectations in the third quarter of fiscal year 2024.