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. . Pinduoduo Inc (NASDAQ: PDD) and JD. com, Inc (NASDAQ: JD) could benefit from antitrust proceedings against Alibaba Group Holding Ltd (NASDAQ: BABA) in China, according to Hans Chung, an analyst at KeyBanc Capital Markets. What Happened: "We believe that PDD may be the primary beneficiary of the investigation and JD may be secondary," Chung said in a note. The Chinese investigation is mainly focused on exclusive agreements with traders on the Tmall platform prohibiting them from opening business on competing platforms, the analyst said. Pinduoduo could benefit if the unfair practice is removed "given the customer size and [return on investment] that are attractive to merchants. "This could not only lead to an increase in [gross value], but also to lower sales and marketing costs or a higher acceptance rate, as [Pinduoduo] may not have to attract traders through subsidies or traffic incentives for the platform," the analyst stated. For JD, the analyst believes the apparel category regulatory measures could be beneficial, but the benefit may be "limited" due to the company's customer profile and the nature of the platform, which is more like retailers than malls. Chung set a price target of $ 355 and rated the stocks as overweight. Why It Matters: As for the impact on Alibaba itself, KeyBanc analyst does not expect "significant changes in the competitive landscape" and regards concerns as "exaggerated". "Chung said the stock pullback since November creates an attractive entry point for" long-term opportunity "in Alibaba. KeyBanc said in its note that fines - and not severance - are the "most likely outcome," along with a closer look at business operations in the Alibaba case. Based on the rectification requirements imposed by Chinese regulators, a breakup of the Ant Group is signaled, according to Chung. On Monday, Alibaba shares were trading nearly 8% lower in Hong Kong at press time after the company announced plans to raise the share buyback threshold by an additional 4 billion by the end of 2022. USD to 10 billion. To raise USD. Price action: Alibaba shares closed Jan.. 34% lower at $ 222 on Thursday in New York. On the same day, Pinduoduo stock closed almost 8. 9% higher at $ 152. 75 on Thursday and won 0. 66% in the after-hours session. JD shares closed 1. 14% lower at $ 84. 49 and fell 0. 22% in the meeting after business hours. Photo: Courtesy of AlibabaLatest Reviews for BABA DateFirmActionFromTo Nov 2020UBSMaintainsBuy Nov 2020Raymond JamesMaintainsStrong Buy Nov 2020Raymond JamesMaintainsStrong Buy See more analyst reviews for BABA See latest analyst reviewsSee more from Benzinga, view Jack * Click here to see options from Benzinga Ma said Beijing during the IPO exam: WSJ * Alibaba ropes in Gucci to attract brand conscious Chinese buyers (C) 2020 Benzinga. com. Benzinga does not offer investment advice. All rights reserved.
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