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BOCOMI Hong Hao Sees Sustained Value Valuation Revival in 2H21, Low Downside Risk for Baba

BOCOMI Hong Hao Sees Sustained Value Valuation Revival in 2H21, Low Downside Risk for Baba

BOCOMI洪浩預計2h21持續估值復甦，巴巴下行風險較低
AAStocks ·  2021/06/22 04:53

Compared with U.S. growth stocks, China's growth names still come with rather demanding valuations, opined Hong Hao, Managing Director and Head of Research at BOCOM International. He believed the value segment will continue to see valuation recovery in the second half of 2021.

BABA-SW (09988.HK)'s regulation risk has basically been mitigated at this stage, said Hong. Despite magnified near-term investment, the group's key business inputs will help strengthen its penetration in lower-tier cities. This, coupled with solid business stability, will likely reduce the risk of further price downside for BABA-SW.

交銀國際董事總經理兼研究部主管洪浩認為，與美國成長型股票相比，中國成長型股票的估值仍然相當苛刻。他認為，2021年下半年，價值領域的估值將繼續回升。洪磊表示，現階段BABA-SW(09988.HK)的監管風險已基本緩解。儘管近期投資擴大，但集團的主要業務投入將有助於加強其在二三線城市的滲透。再加上穩固的業務穩定性，BABA-SW可能會降低價格進一步下跌的風險。

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