LB Takeaway | Alibaba, JD's price target boosted while Tencent's cut by 10%

If calculated at today's closing price, this price means that there is still 40% room for improvement!

Why: The bank said that considering the year-over-year growth of GMV in 618 promotions this year, it believes that Ali has had the toughest quarter. Although negative factors still exist, affecting the revenue recovery trend, it believes that its cost control measures will help improve profitability elasticity, and it is also looking forward to the follow-up. In addition, the company will report its first fiscal quarter results next month. It forecasts that total revenue will fall by 2% year over year to RMB 203 billion, and adjusted EBITA will fall by 34% year over year to RMB 27.6 billion.

Citi: Maintain "Buy" rating on JD.com, raise price target to $93 from $90

Calculated at yesterday's closing price of $59.59, this price means that there is still 56% room for improvement!

Why: The bank believes that the overall trend of JD.com in the second quarter will be within the expected range. Considering the strong sales trend in June, as well as rigorous investment philosophy and cost optimization efforts, analysts raised their expectations for second-quarter profit.

Citi: maintain Twitter's "neutral" rating, cut price target to $36

Calculated at yesterday's closing price of $32.65, this price means that there is still 10 % room for improvement!

Why: While Tesla CEO Elon Musk's termination of the deal could be another negotiating tactic to lower the price of the deal, analysts fundamentally see Twitter's operating environment as "increasingly challenging" given the deteriorating macro environment, hiring freezes, recent layoffs and the company's restructuring, the bank said.

JPMorgan Chase: maintain Amazon's "overweight" rating, target price of $175

Calculated at yesterday's closing price of $111.75, this price means that there is still room for 57% to rise!

Why: Analysts expect Prime Day to drive $3.8 billion in incremental revenue, up 7% from the $3.6 billion incremental revenue Amazon disclosed for Prime Day last year.

This year's Prime Day is back to the usual mid-July, which will restore the focus on summer and back-to-school shopping and help Amazon tap into some of its excess capacity, the bank said.

Barclays: Maintain AMD's "hold" rating, cut its price target by 26% from $115 to $85; maintain Intel's "underweight" rating, cut its price target by 11% from $45 to $40

Based on yesterday's closing price, this price means that there is still room for 10 % and 8% to rise, respectively!

Why: The bank noted that overall laptop production is now likely to fall by 17% year over year, compared with a previous forecast of a 12% decline. It also pointed to the weak laptop market in June and the continued weak demand outlook for both products in the second half of the year.

Intel executives have made relatively cautious comments about the company's upcoming quarterly results in recent weeks, while AMD reiterated its guidance at its investor day.

"We are in the process of reducing our expectations for both companies, but they may need to be revised down further as the market expectations are only just beginning to be revised down," the bank wrote in a note, adding that "there is no reason to continue owning shares in either company until there is a clearer understanding of the magnitude of the adjustment."

In addition, the "real make-or-break year" for Intel is 2024, as it will launch new products at 4nm and 3nm nodes, but there are signs that the company's technology roadmap is uncertain.