Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Benzinga
Benzinga
Business
Anusuya Lahiri

Mizuho Continues To See Upside In Alibaba, JD, Baidu, Dada Amid Odds

  • Mizuho saw a challenging 1H22 for China's internet, given the ongoing disruptions to consumer spending and business activities from COVID restrictions. 
  • Mizuho expects the negative impact to spread across all internet segments, including e-commerce, advertising, and cloud computing. 
  • As a result, Mizuho lowered its revenue growth rate by 5 points in 1H22 and 3 points for FY22. 
  • Mizuho cut the PT for Baidu, Inc (NASDAQ:BIDU) from $300 to $285 (127.7% upside) and maintained a Buy.
  • Mizuho cut the PT for JD.com, Inc (NASDAQ:JD) from $100 to $90 (45% upside) and maintained a Buy.
  • Mizuho cut the PT for Alibaba Group Holding Limited (NYSE:BABA) from $180 to $160 (62.3% upside) and maintained a Buy.
  • Mizuho cut the PT for Dada Nexus Limited (NASDAQ:DADA) from $20 to $18 (129% upside) and maintained a Buy.
  • Mizuho cut the PT for Tencent Holding Ltd (OTC: TCEHY) (from HK$450 to HK$400). 
  • JD and Baidu were Mizuho's top picks set to gain market share from regulatory policies and a competitive environment. 
  • Price Action: BABA shares traded higher by 1.90% at $98.93 on the last check Monday.
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.