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Jan 14, 2022
TexBr/iStock via Getty Images Chinese on-demand retail platform operator Dada Nexus (NASDAQ: DADA ) saw its shares rise more than 5% on Friday as Mizuho Securities analyst Wei Fang started coverage of the company with a buy rating and $25 a share target price. Fei said that Dada ( DADA ), with a network of more than 100,000 retail stores, is the second-largest local-delivery platform for such businesses in China. "The company has meaningful coverage in grocery and pharmacy, and is expanding into other retail verticals such as electronics and beauty [and] cosmetics," Wei said, adding that a recent integration with JD.com (NASDAQ: JD ) gives Dada ( DADA ) the opportunity to cross-sell products to a base of more than 500 million consumers. Wei said that based on coverage of the likes of JD.com ( JD ) and Alibaba (NYSE: BABA ), "Shopping behavior is evolving rapidly in China for high-frequency verticals like grocery, and major e-commerce firms are all investing in this field," which points to Dada ( DADA ) adding to its value proposition. Along with Dada ( DADA ), JD.com ( JD ) shares rose 2.6% and Alibaba ( BABA ) was up by just shy of 1%.
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7 Team Members
Mizuho Securities has 7 team members, including current President, Yasuo Agemura.