Which Chinese Stock Do Analysts Like Most?

Chinese stocks (and many of their investors) have been battered over the past few years, so much so that many investors have shunned them. Despite the seemingly never-ending pressure that most Chinese stocks have endured, more than a handful of Wall Street analysts continue to view a select few of them as intriguing investments.

Undoubtedly, there’s a high degree of geopolitical risk in investing in any Chinese stock. And as the Chinese economy continues battling headwinds, questions linger as to how much lower the broader basket of Chinese tech stocks can go.

Though Chinese stocks (especially the tech plays) are not everyone’s cup of tea, it’s hard not to be intrigued by them here if deep value is what you’re after. With talks of China stimulus, perhaps there is hope for the economy (and bruised Chinese tech stocks) to receive a much-needed boost.

Therefore, let’s tune into TipRanks’ Comparison Tool to check in with three U.S.-listed Chinese tech stocks that Wall Street thinks could gain in 2024.

PDD Holdings (NASDAQ:PDD)

First, we have PDD Holdings (best known as Pinduoduo), which has been one of the hottest Chinese stocks over the past two years. Shares have shot up more than 275% since ricocheting off their lows back in May 2022. Though the exponential past year of gains has put new highs within striking distance, there’s a new slate of potential hurdles that could spark a pullback.

On Monday, the stock nosedived by more than 8%, as Evergrande liquidation news sent jitters down investors’ spines. Despite the shocking headline, though, I remain bullish on PDD stock. That’s because its shopping app continues gaining in popularity while China continues to shed more light on its potential stimulus plans, which may have a “big impact,” according to ex-PBOC officials.

In any case, it’s hard to ignore the hype behind PDD’s Temu app, which has pretty much gone viral in the U.S. Indeed, consumer appetite for incredibly low-cost discretionary goods…