Alibaba's 2H Performance Expectations Bolstered by China's Economic Policies and International Commerce: Analyst
Portfolio Pulse from Anusuya Lahiri
Truist analyst Youssef Squali reiterated a Buy rating on Alibaba Group Holding Limited (NYSE:BABA) with a price target of $130. Squali expects Alibaba's 2H performance to be bolstered by China's economic policies and international commerce. He anticipates a 9% Y/Y growth in total revenue in F1Q24 due to recovery in China Commerce. Alibaba's International Commerce is expected to achieve +24% Y/Y growth in 1Q24, bolstered by a recovering Europe and the U.S. market and rapid growth in Southeast Asia. Alibaba's management reshuffle and organizational restructuring are seen as positive moves for the company's growth.
July 31, 2023 | 9:48 pm
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Alibaba's stock is expected to perform well in the short term due to positive growth expectations and a Buy rating from Truist analyst. The company's management reshuffle and organizational restructuring are also seen as positive moves for the company's growth.
The news is directly related to Alibaba and contains positive growth expectations from a reputable analyst. The company's management reshuffle and organizational restructuring are also seen as positive moves for the company's growth, which could positively impact the stock price in the short term.
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