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MKM Partners raises its Alibaba target to 43% upside

Published 05/18/2018, 09:18 AM
© Reuters.  MKM Partners raises its Alibaba target to 43% upside
BABA
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  • MKM Partners raises its Alibaba (NYSE:BABA) price target from $260 to $280, a new Street high. The new target represents a 43% upside to yesterday’s close.
  • Analyst Rob Sanderson says, “We feel the narrative on the stock is shifting from concern over investment spending to a focus on profit growth and long-term opportunity.”
  • Sanderson expects the “new retail” initiative combining offline and online businesses will ultimately have margins as high or higher than the existing marketplace model.
  • Alibaba shares are essentially flat premarket at $196.10.
  • Now read: Tencent: Confounding The Doubters


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