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Fly News Breaks for October 18, 2018
BABA
Oct 18, 2018 | 07:50 EDT
Oppenheimer analyst Jason Helfstein lowered his price target for Alibaba to $210 from $230 as he now expects softer core commerce revenue, mainly due to modestly slower e-commerce industry trends and mix to non-paid product recommendations. In addition, the analyst also expects investments at New Retail, Ele.me and DME to have a greater impact on near-term margins. Helfstein reiterates an Outperform rating on the shares as he expects trade war rhetoric to subside after mid-term elections.
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