bocom intl published a report stating the investment rating and target price for chinese e-commerce stocks:

Stock │ Investment rating │ Target price

alibaba (BABA.US) | buy | $111

pdd holdings (PDD.US) | buy | $194

meituan (03690.HK) | buy | HK$136

jd.com (JD.US) | buy | $41

kuaishou (01024.HK) | buy | HK$54

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The bank also compares the valuation forecasts of e-commerce stocks and international e-commerce stocks.

Stocks │ Forecasted P/E ratio for 2025 │ Forecasted P/S ratio for 2025

Alibaba (BABA.US) │ 7.9 times │ 1.3 times

PDD Holdings (PDD.US) │ 5.2 times │ 1.7 times

Meituan (03690.HK) │ 14.1 times │ 1.8 times

JD.com (JD.US) │ 6.8 times │ 0.3 times

Kuaishou (01024.HK) │ 6.8 times │ 1.1 times

Vipshop (VIP.US) │ 5.4 times │ 0.4 times

Amazon (AMZN.US) │ 28 times p/e │ 2.8 times p/s

ebay (EBAY.US) │ 12.2 times p/e │ 2.9 times p/s

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Average │ 10.8 times p/e │ 1.5 times p/s