KeyBanc analyst Hans Chung raised his price target for Alibaba to $260 from $243 on higher China retail marketplace. His checks suggest that Alibaba's apparel GMV grew 15% year over year in Q3, down from 17% year over year in Q2, with a slight year over year decline in men's fashion apparel and modest growth in women's offset by 30%-plus growth in sportswear, while beauty and cosmetics GMV grew strongly with the sub-category's traffic accounting for more than 50% of total in-app traffic during the promotion season. The analyst also expects upside to consensus commission revenue driven by TikTok directed GMV. He has an Overweight rating on the shares.