Portfolio Manager Has The 'Most Conviction' In This China Tech Stock Despite Staggering Drop In Share Price
Portfolio Pulse from Benzinga Neuro
Brian Arcese, a portfolio manager at Foord Asset Management, remains bullish on JD.com (NASDAQ:JD) despite its share price dropping by 50% this year. On CNBC Pro Talks, he praised JD.com's growth and free cash flow yield, expressing the most conviction in it over other Chinese tech stocks like Alibaba, Baidu, and Tencent. Analysts also maintain a positive outlook, with a majority recommending a buy or overweight rating, suggesting a potential upside of around 48-54.4% from its current price.
November 27, 2023 | 2:23 am
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POSITIVE IMPACT
JD.com's stock may see a positive short-term impact due to the strong conviction from a notable portfolio manager and the majority of analysts maintaining a buy or overweight rating, indicating a potential upside.
The positive sentiment from a respected portfolio manager, coupled with the majority of analysts' recommendations, could lead to increased investor confidence and a potential rise in JD.com's stock price in the short term.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 100