Bernstein Says Tencent and Alibaba Stocks Are Its Top AI Plays in China
Photo: CoinCentral
TLDR Bernstein named Tencent, Alibaba, NetEase and Boss Zhipin as its preferred China internet stocks, citing AI progress despite weak consumer demand. The firm says the market undervalues Tencent’s AI work, including Workbuddy and Hy4. Bernstein cut its Alibaba price target but kept an Outperform rating, and expects Alicloud growth to beat forecasts. Alibaba’s latest quarter showed revenue of $39.64 billion, up 8.6%, but earnings per share missed estimates. Tencent is reportedly negotiating to buy SuperPlay for up to $1.5 billion. Bernstein has named its preferred names in China’s internet sector.
Source: CoinCentral
