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<Research>BofAS: AI Remains Biggest Growth Highlight for CN Internet; TENCENT Sector Top Pick
Recommend 20 Positive 34 Negative 15 |
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BofA Securities released a report on China's internet sector, predicting that stock performance will remain divergent this year, with AI foreseen to outperform once again. Virtual consumption in entertainment and tourism is set to outpace physical e-commerce. AI continues to be the biggest growth highlight in the industry, although weak macro conditions exert pressure on consumer spending (e-commerce) and corporate spending (advertising), remaining a drag on the sector. In terms of stock selection, the broker continued to favor AI and online gaming over e-commerce. TENCENT (00700.HK) remains the sector top pick, offering the best combination of AI-driven growth, stable market competition, optimal shareholder returns, and attractive valuation. BABA-W (09988.HK) is still the best investment target for China's AI and the top pick among Chinese e-commerce stocks. BIDU-SW (09888.HK), with appealing AI potential, has value released on track. In digital entertainment, BofA Securities preferred online gaming, recommending BILIBILI-W (09626.HK) and TME-SW (01698.HK). Vertically, it preferred JD HEALTH (06618.HK) and TRIP.COM-S (09961.HK), while being Neutral on Pinduoduo (PDD.US) and MEITUAN-W (03690.HK). AASTOCKS Financial New Website: www.aastocks.com |
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