Big move! PDD rating and target price have been significantly downgraded. Alibaba is still the top choice for e-commerce stocks on Wall Street.

Goldman Sachs: Downgrades PDD's rating from "Buy" to "Neutral" and lowers target price by 20% to $93

If calculated at the latest closing price of $66.75, this price implies a 39% upside!

The bank believes that compared to other stocks with larger revisions, PDD's risk-return is relatively flat. The bank expects the company's Q1 GMV growth to increase, but advertising revenue growth will slow down from Q2 due to a high base. In addition, due to increased domestic S&M spending and overseas Temu investment, it is expected to enter a period of flat performance in Q2.

At the same time, Alibaba is still the bank's preferred stock in the Internet and e-commerce sector: (1) Taobao-Tmall's GMV growth has improved, and the gap with the industry has narrowed; (2) it is in a leading position in the field of generative AI, and cloud business growth may recover in the second half of the year; and (3) the overall profit growth prospects of the group are clear, as loss-making businesses can be adjusted through restructuring.

Jefferies: Upgrades XPENG-W's rating to "Hold" with a target price of $9.3

If calculated at the latest closing price of $9.29, this price implies basic parity.

Citigroup: Maintains "Buy" rating for Coca-Cola with a 4% increase in target price to $74

If calculated at the latest closing price of $63.95, this price implies a 16% upside!

The bank stated that Coca-Cola announced "steady" first-quarter results, but considering the uncertainty of the macro environment and the weak start in early April, the company "cautiously" maintained its guidance. The bank added that Coca-Cola's fundamentals are still solid, with strong pricing power and strong development trends in emerging markets.

CICC: Maintains "Outperform" rating for Kuaishou with a 11.8% decrease in target price to HKD 82

If calculated at the latest closing price of HKD 48.1, this price implies a 70% upside!

Kuaishou-W is expected to release its first-quarter results in late May. The bank expects revenue to increase by 19.6% YoY to RMB 25.19 billion (the same below), with the market expectation of RMB 24.28 billion; Non-IFRS net loss of RMB 168 million, with the market expectation of a loss of RMB 505 million.

At the same time, the bank believes that the company's e-commerce and live broadcast business revenue is expected to exceed expectations, driving total revenue and Non-IFRS net loss to be better than market expectations. The bank raised Kuaishou's full-year Non-IFRS net profit forecast by 64.9% to RMB 1.67 billion, and basically maintained the Non-IFRS net profit forecast for next year and the year after.