Alibaba's Intime Disposal Creates Space for Shareholder Returns -- Market Talk
Dow Jones12-17
0655 GMT - Alibaba's disposal of Intime aligns with its strategy of focusing on its core e-commerce business and returning value to shareholders, Jefferies analysts Thomas Chong and Zoey Zong say in a research note. Alibaba earlier said it expects to record a loss of CNY9.3 billion from the sale of its interest in department-store chain Intime. "We believe disposals of non-core assets will help return value to shareholders," the analysts say. Jefferies maintains a buy call on Alibaba's ADRs and keeps its target price at $143.00. ADRs last closed at $86.06. (sherry.qin@wsj.com)
(END) Dow Jones Newswires
December 17, 2024 01:55 ET (06:55 GMT)
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