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Fly News Breaks for October 4, 2019
PDD, BABA
Oct 4, 2019 | 05:50 EDT
After hosting a dinner with an apparel brand expert, HSBC analyst Binnie Wong says Alibaba (BABA) "remains dominant." Alibaba is still leading the way in the brands' online retail market, Wong tells investors in a research note. Further, Tmall is more effective in new products launches, with higher profits for Alibaba versus Pinduoduo (PDD), contends the analyst. Wong views Alibaba as attractively valued and boosted the stock's price target to $233 from $230. The analyst keeps a Buy rating on the shares.
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