These Analysts Boost Their Forecasts On Alibaba After Strong Q1 Results
Portfolio Pulse from Lisa Levin
Alibaba Group Holding Limited (NYSE:BABA) reported better-than-expected Q1 FY23 results, with a 14% YoY revenue growth to $32.29 billion, beating the consensus of $31.20 billion. Non-GAAP earnings per ADS of $2.40 also beat the consensus of $2.02. Following the announcement, Bernstein, Baird, and B of A Securities raised their price targets on Alibaba.
August 11, 2023 | 12:23 pm
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Alibaba's better-than-expected Q1 FY23 results led to a rise in its stock price and an increase in price targets by several analysts.
Alibaba's strong Q1 FY23 results exceeded market expectations, leading to a positive reaction in its stock price. This also prompted several analysts to raise their price targets on the company, indicating a positive outlook for the stock in the short term.
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IMPORTANCE 80
RELEVANCE 100