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2023-01-11

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ALIBABA LATEST TARGET PRICE RAISE TO $160 BY CITIGROUP

$Alibaba(BABA)$ Bullish Despite the recent rally, the stock is trading 8.2x forward P/E ex. net cash and investment, a bargain valuation, in Jiang's view, especially considering the recovery ahead. Jiang raised F3Q23 topline estimates to RMB 244.9B from RMB 244.6B. The analyst raised our F3Q23 adjusted EBITDA to RMB 52.5B from RMB 51.5B, reflecting better-than-expected cost control, especially on Taobao Deal and Taocaicai. Citigroup analyst Alicia Yap maintained Alibaba with a Buy and raised the price target from $144 to $160.

ALIBABA LATEST TARGET PRICE RAISE TO $160 BY CITIGROUP

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