Fly News Breaks for February 18, 2020
Feb 18, 2020 | 07:36 EDT
SunTrust analyst Youssef Squali raised his price target on Alibaba to $250 and kept his Buy rating after its December quarter earnings exceeded expectations on "virtually every metric". The analyst believes that the management has continued its "solid execution" against a "massive" growth opportunity, with the company gaining market shares in e-commerce both inside and outside of China. Squali adds that while coronavirus adds "material uncertainty" for Alibaba in the near term, it may also accelerate the "online" shift in consumption, particularly in lower-tier cities.
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