Analysts are sticking by these buy rated stocks even in a trade war
Wall Street analysts aren’t backing down from their buy ratings on stocks that have been hit hard in the latest trade battle between the U. S. and China. While the two countries continue slapping tariffs on each other, many analysts say clients should use the market weakness as a time to buy these beaten down shares because the risks are overblown.
CNBC did a deep dive through sell-side stock research since the trade war escalated to find companies that analysts are singling out in their respective coverage universes.
The Dow dropped as much 719 points on Monday as the trade war continued its escalation but is higher in early trading on Tuesday.
Wall Street will be watching Alibaba’s earnings report on Wednesday for any signs of the trade war effect on the Chinese e-commerce giant.
The most recent actions by the White House have brought “greater uncertainty,” to the company, but SunTrust analysts are sticking with their buy rated call. “The latest data out of National Bureau of Statistics of China suggests that the macro environment has been improving, a positive for Chinese consumption, and for BABA in particular,” analyst Youssef Squali said.
