Pedestrians along the near-empty Nanjing Road shopping street outside of the impacted areas during a lockdown in Shanghai on March 31. Photo: Bloomberg
Is there a floor for Chinese tech stocks? Covid lockdowns trap bulls as price targets are slashed again
- China’s biggest tech stocks suffered another round of cuts to their upside potential last quarter as Covid-19 disrupted business activity
- Analysts trimmed their 12-month target for Alibaba, Meituan by 19 to 26 per cent last quarter, despite deep revisions in 2021
Pedestrians along the near-empty Nanjing Road shopping street outside of the impacted areas during a lockdown in Shanghai on March 31. Photo: Bloomberg
