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Fly News Breaks for February 20, 2020
BABA
Feb 20, 2020 | 08:39 EDT
Argus analyst Jim Kelleher raised his price target on Alibaba to $260 and kept his Buy rating after its Q3 earnings beat. The analyst notes that while the stock has sold off after the release to reflect the impact of the coronavirus uncertainty on its business, he believes that the company may benefit from accelerated digital initiatives among consumer and businesses, much as it did during the SARS outbreak in 2003.
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