Market Overview

Alibaba Analyst Lowers Second-Half Estimates, Raises Price Target In Shifting E-Commerce Landscape

Share:
Alibaba Analyst Lowers Second-Half Estimates, Raises Price Target In Shifting E-Commerce Landscape

KeyBanc Capital Markets is lowering its estimates for Alibaba Group Holding Ltd - ADR (NYSE: BABA) in the second half of the year.

Traffic shifts to merchant livestreaming could have a negative impact on the Chinese e-commerce giant's monetization, an analyst said. 

The KeyBanc Analyst: Hans Chung reiterated an Overweight rating on Alibaba and raised the price target from $255 to $285.

The KeyBanc Takeaways:  “The shift to live streaming traffic/GMV could represent more upside from a LT perspective, given higher engagement and conversion than regular channels,” Chung said in a Monday note. (See his track record here.)

COVID-19 has structurally changed the ways of doing businesses and has been accelerating digitalization, the analyst said. 

DingTalk, with over 100 million daily active users, presents a big potential for enterprise value in the long run, he said. 

BABA Price Action: Alibaba shares were down 0.54% at $247.25 at last check Wednesday. 

 

 

 

Latest Ratings for BABA

DateFirmActionFromTo
Jul 2020KeyBancMaintainsOverweight
Jul 2020NeedhamInitiates Coverage OnBuy
May 2020CFRAMaintainsHold

View More Analyst Ratings for BABA
View the Latest Analyst Ratings

 

Related Articles (BABA)

View Comments and Join the Discussion!

Posted-In: e-commerce Hans ChungAnalyst Color News Price Target Reiteration Global Analyst Ratings

Latest Ratings

StockFirmActionPT
OXYJP MorganUpgrades
MUDeutsche BankDowngrades48.0
ELANCredit SuisseReinstates27.0
NBRGoldman SachsDowngrades45.0
GTBIFCantor FitzgeraldMaintains27.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com