Alibaba's Recovery and Growth Prospects Drive Positive Outlook from Mizuho Analyst
Portfolio Pulse from Anusuya Lahiri
Mizuho analyst James Lee maintains a Buy rating on Alibaba Group Holding Limited (NYSE:BABA) with a price target of $145. Lee expects Alibaba's June quarter top line to reflect a recovery in consumer consumption, with GMV growth at 7.5% YoY. The analyst also predicts China Commerce EBITA of 49 billion RMB, ahead of the consensus of 47 billion, reflecting continued progress on loss reductions across all segments. Alibaba's shares are trading higher by 1.05% at $95.21.
August 09, 2023 | 6:56 pm
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Mizuho analyst maintains a Buy rating on Alibaba with a price target of $145. The analyst expects Alibaba's June quarter top line to reflect a recovery in consumer consumption, with GMV growth at 7.5% YoY.
The positive outlook from Mizuho analyst James Lee is likely to have a positive impact on Alibaba's stock in the short term. The analyst's expectations of a recovery in consumer consumption and GMV growth, as well as the maintained Buy rating and price target of $145, are all positive indicators for the company's stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100