Goldman Sachs: Mainland Internet industry most prefers e-commerce and gaming sectors, raises target prices for Tencent, Alibaba, JD.com, Meituan, and PDD
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Goldman Sachs considers e-commerce and gaming as priority sectors in the mainland internet industry, based on strong growth and loose policies. The bank has raised the target price-to-earnings ratio and target price for Tencent, Alibaba, JD.com, Meituan, and Pinduoduo, believing that the mainland e-commerce market will provide significant value restoration. Tencent's target price has been raised from HKD 464 to HKD 521, Alibaba from HKD 105 to HKD 131, JD.com from HKD 157 to HKD 178, Meituan from HKD 157 to HKD 194, Pinduoduo from USD 165 to USD 169, all rated as "Buy"
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