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Fly News Breaks for December 15, 2017
BABA
Dec 15, 2017 | 09:08 EDT
MKM Partners analyst Rob Sanderson says the recent weakness in Alibaba stock can be attributed in part to sector rotation from the large-cap internet plays and overall weakness in the Asian stocks. The analyst notes that the consensus forecast for the company in Q3 is likely to be conservative, as it heads into "strong seasonality, solid consumption trends and continued monetization improvements." Sanderson keeps his Buy rating and $220 price target on Alibaba, adding that investors should "buy the recent weakness".
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