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Fly News Breaks for August 16, 2019
BABA
Aug 16, 2019 | 07:24 EDT
Stifel analyst Scott Devitt raised his price target on Alibaba shares to $225 from $220 after the company's "strong" Q1 results demonstrated its "ongoing domination" of the world's largest e-commerce market as the company continues to penetrate less developed areas in China. Devitt, who added that he is encouraged by the company's margin improvement while progress is being made in its strategic investments, keeps a Buy rating on Alibaba shares.
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