Looking to cash in on the China reopening, while being mindful of a potential recession? Bernstein has a raft of tech stocks it says checks the boxes.
China's reopening is seen as a major tailwind for stock markets this year, and Bernstein has shared a list of stock picks to cash in — which it says also provide downside protection. "We collaborate with our sector analysts to highlight 30 stocks which look well positioned to capture the China reopening tailwind, benefit from risk-on sentiment while not losing sight of the looming global recession risk," Bernstein's analysts, led by Jay Huang, wrote in a note on Feb. 20.
The bank believes Alibaba will gain market share as China reopens and said it is attracted to Alibaba's "runway of potential event catalysts," which includes a potential listing of its 33%-owned Ant Group. Alibaba's shares also look "very modestly valued" on a variety of metrics, and risk-reward remains constructive, the bank added.
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