Here are three highlights from SunTrust's note on Alibaba Group Holding Ltd BABA.
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"Very Upbeat on “Singles” Day; Daniel Zhang, COO of Alibaba, has stated that Singles Day has the potential to be a global phenomenon in 5-10 years."
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Singles Day could generate >$8B of sales and with >200M packages/"
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"There are many additional reasons why Alibaba is an attractive investment, including its: large and under penetrated ~$3.5T addressable market in China."
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Shares of Alibaba recently traded at $116.07, up 1.3 percent.
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