Macquarie: rated Alibaba as outperforming the market, with a target price of $162

Macquarie analyst Ellie Jiang resumed the tracking of $Alibaba(BABA.US)$ with a rating of outperforming the market and a target price of $162. Alibaba is building a cohesive ecosystem. She believes that the company benefits from the continuous improvement of China's e-commerce penetration, the natural extension of customer life cycle value and efficient cost structure. Jiang predicted that the increase in the penetration rate of domestic retail industry, as well as international business expansion and other measures, would promote the continuous CAGR of revenue in fiscal year 22-24 to reach 15%. He also believed that the valuation of the stock had fallen to a low point of two standard deviations lower than the historical average.