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JPMorgan Analysts Behind ‘Uninvestable’ Call Upgrade China Tech

  • Tencent, Alibaba, Meituan, NetEase among stocks upgraded
  • ‘Uninvestable’ label in March slipped through JPMorgan editors
Bloomberg business news
JPMorgan’s ‘Uninvestable’ Call on China Internet Firms Was Published in Error
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JPMorgan Chase & Co. analysts are turning more positive on Chinese Internet stocks, upgrading at least 15 companies just two months after their bearish report on the industry triggered a market selloff and a bout of internal hand-wringing at the biggest US bank.

Analysts led by Alex Yao raised their ratings on companies including Tencent Holdings Ltd. and Alibaba Group Holding Ltd. on Monday, a move that’s likely to raise eyebrows on Wall Street after reports from the team in mid-March called the sector “uninvestable.”