Alibaba, Tencent’s outlook for 2021

President Alibaba Group Holding Ltd. Jack Ma at the Viva Technology show in Paris, France.

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GUANGZHOU, China – China’s two largest market capitalization technology companies, Tencent and Alibaba, saw their shares rally in 2020. Analysts say there will be more growth next year.

However, both companies will face a number of winds, including a tougher stance on the part of China’s regulators over the country’s technology giants.

Tencent shares have already risen 52% this year, while Alibaba’s Hong Kong-listed shares have risen 20% so far, and US-listed shares have risen by about 22.7% over 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.