BNP Paribas Exane Adjusts Price Target on Tesla to $116 From $103, Maintains Underperform Rating
Tesla (TSLA) has an average rating of hold and price targets ranging from $85 to $315, according to analysts polled by Capital IQ.(MT Newswires covers equity, commodity and economic research from majo
Macquarie ups rating on PDD, BABA under Chinese internet picks, lists JD and DIDIY as favorite
Macquarie Equity Research made notable changes under its coverage of U.S.-listed Chinese Internet stocks on Monday. They said Chinese local services, ecommerce, and travel stand out as key sectors that offer "quality at discount" and listed JD.com and DiDi Global as top U.S. equity picks in their portfolio and reiterated "outperform" on them. The research firm upgraded both U.S. and Hong Kong-listed shares of Alibaba to "outperform" from "neutral," lifted their core TTG EV/EBITA multiple from 5x to 10x, and rolled forward to CY2025 estimates. PDD was upgraded to "outperform" from "neutral" on a more stable landscape as BABA, but noted that more intense competition in low-price categories could result in market share losses. "Valuations across China's internet sector are always framed around the combination of growth and earnings. While the sector's top line indeed showed significant deterioration since early 2023, mainly weighed down by sluggish consumption and depressed pricing,