Read Why Goldman Sachs Is Bullish On Alibaba After Its 2021 Investor Day 2

December 20, 2021 9:21 AM | 1 min read | Make a Comment

Alibaba Group Holding Ltd BABA just hosted day 2 of its 2021 investor day led by Chair and CEO Daniel Zhang and CFO Maggie Wu.
Goldman Sachs analyst Piyush Mubayi said that Alibaba management expressed their constructive outlook for China's long-term development despite near-term macro weakness.
Related Content: Read Truist's Take On Alibaba Based On Annual Investor Day 1
Alibaba is investing amid heightened competition in China e-commerce as "offense is the best defense in China Commerce," Mubayi added.
Mubayi reiterated a Buy on Alibaba with a price target of $215, implying an upside of 76%.
Price Action: BABA shares traded lower by 3.02% at $118.41 in the premarket session on the last check Monday.