The firm expects Alibaba is the best way to play a rebound in the China internet sector.
The outlook for Alibaba has improved in 2023 as China reopens, according to Goldman Sachs. Analyst Ronald Keung added the stock to his conviction buy list, saying Alibaba is the best way to play a rebound in the China internet sector. "We see Alibaba at 11X 2023 adj.
He expects the China internet sector will get a lift following easing Covid restrictions, as well as a macro recovery expected in the second quarter.
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