Citi: Maintain Alibaba (BABA.US) Buy rating, target price of 240 US dollars

$Alibaba (BABA.US)$ $Citigroup (C.US)$ Citigroup published a research report stating that Alibaba’s total turnover on Double 11 this year reached 540.3 billion yuan, an increase of 8.5% year-on-year, which was lower than the bank’s expected increase of 10-15%, but it was not entirely unexpected because of increased competition. Intense, the macro environment of the consumer industry has slowed down. The bank maintains its target price of US$240 and maintains a buy rating. Citigroup pointed out that after experiencing unprecedented multiple industry headwinds, it is gratified to see that "Double 11" has stabilized with a new normal of moderate growth. Several major trends this year include more participating merchants and offering more product categories; merchants More concerned about the quality of growth. Specifically, Ali’s intention is to keep a low profile, provide a stable and high-quality shopping festival, and aim to achieve sustainable growth and fulfill social responsibilities.

Article excerpted from the US Stock Research Agency