5 Best International Stocks to Buy Now

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1. Alibaba Group Holding Limited (NYSE:BABA)

Number of Hedge Fund Holders: 106

Alibaba Group Holding Limited (NYSE:BABA), the Chinese e-commerce and technology conglomerate, is one of the best international stocks to buy now. In the first week of October, Alibaba Group Holding Limited (NYSE:BABA), along with other Chinese tech stocks, rallied on the back of latest data on job openings and the labor market.

At the end of September, Morgan Stanley analyst Gary Yu reiterated an Overweight rating on Alibaba Group Holding Limited (NYSE:BABA) but lowered the price target on the shares to $110 from $140 as he previewed fiscal Q2 results. The analyst forecasts CMR to drop 4% year-over-year in Q2 due to soft consumption and weak merchant sentiment, but sees cost optimization supporting an EBITA beat.

Alibaba Group Holding Limited (NYSE:BABA) was part of 106 hedge fund portfolios in Q2 2022, compared to 100 in the last quarter. Ken Fisher’s Fisher Asset Management featured as the leading stakeholder of the company, with 14.5 million shares worth $1.6 billion. 

Here is what Distillate Capital has to say about Alibaba Group Holding Limited (NYSE:BABA) in its Q2 2022 investor letter:

“Changes & Regional Weights: The largest new position is Alibaba Group Holding Limited (NYSE:BABA), which underperformed considerably and has seen its enterprise value fall by almost two thirds from its peak despite a net cash position on its balance sheet.”

You can also take a look at 12 Best Bear Market Stocks To Buy Now and 13 Best Video Game Stocks To Buy Now.

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