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SunTrust Robinson Humphrey, Cantor Fitzgerald maintain Alibaba at $115+ targets despite sell-off

Published 11/14/2016, 12:20 PM
SunTrust Robinson Humphrey, Cantor Fitzgerald maintain Alibaba at $115+ targets despite sell-off
BABA
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  • Alibaba 's (NYSE:BABA) positive Singles' Day metrics aren't translating into share gains, with the stock opening the week 4% lower, compounding 6%+ losses realized over last week's term.
  • Robert Peck at SunTrust Robinson Humphrey: "We think Alibaba is a rare and valuable global Internet platform with a powerful ecosystem that creates 3 distinct value propositions for investors, including the value of: What Alibaba generates today; What Alibaba is becoming and; The optionality of what Alibaba can be long term." Restates Buy rating and $125 target (current price $89.12) by year-end 2017.
  • Cantor Fitzgerald's Youssef Squali highlights Alibaba's 11.11 event along with positives it could indicate for the forthcoming December quarter and strength of the Chinese consumer. Similarly retains at Buy, though with a $10 lower, $115 target.
  • Related (November 11): Alibaba records total $17.8B GMV in 24-hour Singles' Day event

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