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亚马逊云账号(www.2km.me)_Alibaba scores 24% winning streak as low valuation lures buyers

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The stock has climbed 24% since hitting a record low in Hong Kong on Oct. 5, after having "gotten very cheap".

SHARES of Alibaba Group Holding Ltd. have made an impressive recovery over the past week, after a lower-than-expected fine for Meituan added to a growing list of positive factors for the battered tech giant.

The stock has climbed 24% since hitting a record low in Hong Kong on Oct. 5, after having "gotten very cheap,” according to James Cordwell, an analyst at Atlantic Equities LLP. Alibaba trades at 17 times forward earnings estimates, compared with a multiple of 25 for Tencent Holdings Ltd. and 39 for JD.com Inc. Tencent shares have gained 10% since a week ago.

The fine "led to some speculation that we are getting toward the end of some of the regulatory scrutiny the sector has been facing,” Cordwell said. Easing U.S.-China tension and signs of improvement in consumer spending over the Golden Week holiday are also positive developments, he added.

Analysts are encouraged by Alibaba’s climb beyond its 50-day moving average. The $469 billion e-commerce giant has no sell ratings, with 36 out of 38 analysts giving it a buy, according to Bloomberg-compiled data. They forecast shares to rise 45% over the next 12 months versus a 28% and 18% gain for Tencent and Meituan, respectively.

Investors may also be thinking "it’s time to reassess the stock” ahead of Alibaba’s quarterly earnings release, Cordwell said. - Bloomberg


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