Why Alibaba's Stock Is Moving Today
Alibaba Group Holding Ltd – ADR (NYSE:BABA) shares are trading higher by 1.85% at $209.90 in Friday's pre-market session after Citigroup analyst Alicia Yap maintains Alibaba with a Buy and lowers the price target from $338 to $306.
Keybanc analyst Hans Chung also maintains Alibaba with an Overweight and lowers the price target from $305 to $275.
Alibaba operates China's most-visited online marketplaces- the consumer-to-consumer driven Taobao and business-to-consumer focused Tmall. Alibaba's China marketplaces account for about 68% of total revenues. Taobao generates revenue through advertising and other merchant data services and Tmall derived revenue from commission fees.
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