Goldman Sachs Removes Alibaba From Conviction List; Still Keeps 'Buy' With 61% Upside

Benzinga2021-11-29

Goldman Sachs analyst Piyush Mubayi is removing Alibaba Group Holding Ltd from his firm's Conviction List but keeping a Buy rating on the shares with a price target of $215, down from $252, implying a 61.2% upside.

  • Alibaba has been increasing its investments on both defensive-offensive strategies amid slowing retail spending and budding competition to acquire new users, build multiple traffic sources, and in the shorter term, raise merchant subsidies to retain merchants.
  • Mubayi expects revenue growth to decelerate to 13%/16% in Q3/Q4.
  • The analyst also expects the aggressive buybacks to continue and the investment portfolio to be revisited.
  • Mubayi believes the negatives have been priced.
  • Mubayi is constructive on Alibaba on its extreme valuation.
  • Price Action: BABA shares traded higher by 0.16% at $133.57 in the premarket session on the last check Monday.
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精彩评论

  • arakom
    2021-11-30
    arakom
    So buy or not?
  • Milliamwong
    2021-11-30
    Milliamwong
    Well
  • Photoniz
    2021-11-29
    Photoniz
    Not a good news… but still leaving value on table
  • JiaDeName
    2021-11-29
    JiaDeName
    Sure anot.. not in the list still say buy?
    • htht
      they not sure that's why take out ma. but maybe still invested so now need to go bai bai and pray that it goes up
  • JiaDeName
    2021-11-29
    JiaDeName
    Like pls thanks..
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