SHARES of Alibaba Group Holding Ltd. have made an impressive recovery over the past week, after a lower-than-expected fine for Meituan added to a growing list of positive factors for the battered tech giant.
The stock has climbed 24% since hitting a record low in Hong Kong on Oct. 5, after having "gotten very cheap,” according to James Cordwell, an analyst at Atlantic Equities LLP. Alibaba trades at 17 times forward earnings estimates, compared with a multiple of 25 for Tencent Holdings Ltd. and 39 for JD.com Inc. Tencent shares have gained 10% since a week ago.