Chairman of Alibaba Group Holding Ltd. Jack Ma at the Viva Technology show in Paris, France.
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Still, both companies will face a number of headwinds, including a tougher stance from China’s regulators on the country’s tech giants.
Already Tencent shares are up 52% so far this year, while Alibaba’s Hong Kong-listed stock has risen 20% year-to-date and its U.S.-listed shares surged about 22.7% in the same period.
But it’s not too late to put your money in them, say investment analysts who have raised their price targets for both stocks.
Read More News: Stock analysts give their 2021 outlook on Tencent and Alibaba