<h3>Citi: US Tech Stocks Prefer Meta and Amazon, Chinese Stocks Optimistic about Tencent, Pinduoduo, and Trip.com</h3>
<p>The bank pointed out that global tech stocks rose by 15.2% last year, with US and Indian tech stocks rising by 43%, Japanese and European tech stocks rising by 12.7% and 6.4% respectively, and Chinese and Korean tech stocks rising by 4.8% and falling by 4.6% respectively.</p>
<p>The bank stated that although the technological progress brought by artificial intelligence will support investment in tech stocks, macro headwinds, interest rates, inflation, competition, and regulation may put pressure on industry and corporate growth. Effective cost optimization and rational spending will drive sustained improvement in profitability, which will support sustainable profit growth for major tech companies. Tech stocks in the US, Europe, China, and India are showing these trends.</p>
<p>In terms of preferred stocks, the bank prefers Meta, Amazon, and Uber among large US tech stocks, Wix, Wayfair, and GoDaddy among mid-cap US stocks, Disney, AppLovin, and Unity among US gaming and streaming concept stocks, and Udemy and Stride among US education technology stocks. Preferred Chinese tech stocks include Tencent, Pinduoduo, and Trip.com.</p>
<h3>Citi: Hang Seng Index Target Price at 19,800 points by the end of this year, recommends Galaxy Entertainment, Tencent, and other stocks</h3>
<p>In terms of Chinese stocks, Citi is particularly optimistic about the technology-related sectors due to the central government's focus on long-term structural reforms. At the same time, stocks benefiting from post-pandemic recovery, such as gaming, tourism, and travel-related stocks, are expected to grow above average in the first half of the year. In addition, high-yield stocks in mainland China and Hong Kong are also expected to perform well.</p>
<p>In terms of specific industries, Citi prefers technology stocks supported by policies, tech stocks with profit growth, stocks related to consumer downgrading, and high-yield stocks in the oil and telecommunications sectors. Preferred H-shares stocks include Galaxy Entertainment, Tencent, BYD, and others.</p>
<h3>BOC International: Lower Alibaba's Target Price by 7.6% to $137, Maintains &#34;Buy&#34; Rating</h3>
<p>The bank stated that Alibaba's business adjustment is still in progress, and it expects international digital commerce to remain a bright spot in its performance. The bank expects Alibaba to increase its investment in the international business in 3QFY24 to support faster expansion.</p>
<p>Although the space for further improving operational efficiency may be limited after a year of strict cost control and facing a more intense competitive environment, Alibaba is still committed to enhancing shareholder returns through dividends and share buybacks. In the short term, maintaining the development of the group's infrastructure and business synergy layout in an uncertain external environment may be conducive to long-term development.</p>
<p>Considering the continued macro headwinds and the possibility of lower-than-expected short-term revenue and profit growth, the bank has lowered the target price based on a sum-of-the-parts valuation from $148.3 to $137.0 per share. However, the bank still sees the long-term development potential of Alibaba supported by international expansion and cloud business development.</p>
<h3>Goldman Sachs: Lower Target Price for WuXi Biologics to HKD 50, Maintains &#34;Buy&#34; Rating</h3>
<p>The management of WuXi AppTec has raised its target for the number of new drug development projects to 110 this year and provided a specific revenue growth target in the mid-double digits (compared to the original target of double digits), while maintaining a target of 30% growth for next year.</p>
<p>The bank believes that WuXi AppTec exceeded expectations last year with 132 new projects, mainly from clinical projects. The increase in new signed projects is a positive signal of demand recovery and can boost revenue for this year and next. However, there is some uncertainty in the lag time from contract signing to revenue conversion and the scale of revenue for each project, as the update of backlog order data is still pending.</p>
<p>Nomura: Meta's revenue is expected to exceed expectations this year, raising the target price to $470.</p>
<p>&#34;We believe that considering factors such as product improvements, increased engagement (AI content distribution), and rising demand from Chinese advertisers, the expected revenue growth of 13% for the fiscal year 2024 seems somewhat conservative.&#34;</p>

<p>Citigroup prefers Meta, Amazon, and Uber among large-cap technology stocks in the United States. It favors Disney, AppLovin, and Unity among gaming and streaming media concept stocks in the United States. Its top picks for Chinese technology stocks include Tencent, Pinduoduo, and Ctrip.</p>

LB Select

Meta Platforms

Amazon

Uber Tech

Disney

TENCENT

Trip.com

Alibaba

BABA-W

TRIP.COM-S

WUXI BIO

BYD COMPANY

Tencent

Unity Software

BABA-WR

Rating Quick Look | Tencent, Pinduoduo "Preferred" and "Recommended"! Alibaba's target price has been lowered again.