Chinese internet stocks are rising higher on Monday as Mizuho Securities analyst James Lee weighs in on the companies.
Let’s start off with Lee’s coverage of JD.Com (NASDAQ:JD) stock. The analyst is expecting the e-commerce company to perform well in its upcoming Q4 earnings reports. That includes meeting estimates set by analysts.
In addition to that, Lee reiterated his $100 price target for the stock. For the record, that’s above the analyst consensus price target of $98.14 per share. It also represents a potential 44.2% upside from the stock’s closing price on Friday.
Next we’ve got Alibaba (NYSE:BABA) stock to cover. Lee believes that the Chinese internet company will face challenges in the upcoming quarter. Even so, he left his buy rating in place for shares of BABA stock.
What didn’t stay in place was the $215 price target that the Mizuho Securities analysts previously had in place for the shares. Lee dropped that to $185 per share, which is below analysts’ consensus rating of $212.88 per share.
Finally, let’s talk about what the analyst had to say about Baidu (NASDAQ:BIDU). Lee is expecting the company to meet analyst estimates when it releases its most recent earnings report. However, it’s expecting a poor outlook at the effects of the Covid-19 pandemic weigh on the shares, reports Seeking Alpha.
JD stock is up 7.1%, BABA stock is up 7.1%, and BIDU stock is up 7.8% as of Monday afternoon.
There’s more than just Chinese internet stocks for traders to keep track of today!
Fortunately, we’ve got them covered with our deep dives into the latest stock market happenings. A few examples include Shopify (NYSE:SHOP) stock and Coinbase Global (NASDAQ:COIN) stock rising, Netflix (NASDAQ:NFLX) running higher, and Skillz (NYSE:SKLZ) stock on the move. You can find out more from the links below!
More Stock Market News for Monday
- DeFi News: Why SHOP and COIN Stock Are Surging Today
- NFLX Stock Alert: There’s a $20 Million Reason Netflix Is Rallying Today
- SKLZ Stock Alert: Investors Snap Up Skillz Shares as Cathie Wood Sells
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
