Loading...
Loading...
- Analysts remained optimistic on Alibaba Group Holding Ltd BABA post Q3 results.
- JPMorgan analyst Alex Yao noted that Alibaba reported fiscal Q3 results broadly in-line with Bloomberg consensus and his estimates. Yao has an Overweight rating and a $180 price target (65.2% upside) on Alibaba.
- He believes a weak December quarter result was "largely expected by investors" but calls out management commentary on plans to narrow loss from Taobao Deal and Taocaicai as "a positive surprise" and expects the shares to trade up in the near-term as losses narrow from e-commerce investments.
- Citi analyst Alicia Yap lowered the price target to $200 from $216 (83.6% upside) and kept a Buy.
- Alibaba posted mixed fiscal Q3 results with total revenue up 10% year-over-year, 1.2% below consensus. The analyst says that while the macro environment and consumption remain weak, management noted gross merchandise volume remains resilient with positive growth in each category.
- Price Action: BABA shares traded lower by 0.86% at $107.99 in the premarket on the last check Friday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in