Alibaba Is On Path To Fundamental Improvement: Analyst
Portfolio Pulse from Anusuya Lahiri
Benchmark analyst Fawne Jiang reiterated a Buy rating for Alibaba Group Holding Limited (NYSE:BABA) with a $180 price target. Jiang noted a slower start for China retail and physical goods in the September quarter but expects a moderate improvement. She highlighted Alibaba's user-centric approach and advertising system upgrades, which may lead to meaningful growth reacceleration. Jiang projected FY24 revenue and EPS of $133.17 billion and $8.72, respectively.
October 10, 2023 | 6:45 pm
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POSITIVE IMPACT
Alibaba's stock may see a positive impact due to the reiterated Buy rating and the analyst's positive outlook on the company's growth potential.
The news of the reiterated Buy rating and the positive growth outlook from the analyst could lead to increased investor confidence in Alibaba, potentially driving the stock price up in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100