TECH - Portfolio Manager Has The 'Most Conviction' In This China Tech Stock Despite Staggering Drop In Share Price | Benzinga
The ongoing struggles of China’s tech behemoths haven’t deterred Brian Arcese, an investment manager, from maintaining a bullish outlook on Chinese tech firm JD.com (NASDAQ:JD).
What Happened: During a conversation on CNBC Pro Talks, Arcese, a portfolio manager at Foord Asset Management, voiced his optimism about JD.com. Arcese highlighted the e-commerce, logistics, and marketing giant’s continued growth, and its 10% free cash flow yield.
Arcese noted that even after excluding cash and investments from the equation, the company presents an impressive 15% to 20% free cash flow five times. This, he emphasized, is for a business that dominates its sector and continues to expand. Despite holding shares in Alibaba, Baidu, and Tencent, Arcese revealed he has “the most conviction” in JD.com.
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Over the course of this year, JD.com’s shares have seen a 50% decline on both the Hong Kong exchange and the Nasdaq. Despite this, FactSet data indicates that 20 out of 23 analysts covering ...