BABA Stock: $160 Target And Buy Rating

The shares of $Alibaba (BABA.US)$ recently received a $160 price target from $Deutsche Bank (DB.US)$ . These are the details.

Price Target:
Price target increased from $155 to $160

Rating:
Buy

Analyst:
Deutsche Bank analyst Leo Chiang

Chiang noted that the company’s June quarter net income was ahead of consensus while adjusted net margins beat, due to a faster than expected narrowing of losses in new initiatives. And Chiang views the current valuation as defensive and cited a faster than expected macro recovery could provide upside potential.

$BABA-W (09988.HK)$ $Hang Seng TECH Index (800700.HK)$ $China Concept Stocks (LIST2517.US)$

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