Several stocks are set to benefit from the "relentless pursuit of eyeballs" in the Chinese internet sector, according to analysts at asset management firm AllianceBernstein.
Online retailer Pinduoduo — which has a wide-ranging shopping app for products such as clothes and groceries — counts white label manufacturers and farmers as a sizable portion of its merchant base. "For all the talk of pivoting to low prices Alibaba and JD did not appear to have made an impact on PDD's lead in mind share for value in Q2 ... or since," the analysts wrote. Stock ratings AllianceBernstein has outperform ratings on both PDD and JD.
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