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From: singhtelecom (Rep: 959)Date: 10/03/2018 09:07
Forum: Alibaba Group - Msg #3302Thread #674038850 (Rec: 0)
target raised to $247 from $241 at Goldman Sachs. Goldman Sachs analyst Piyush Mubayi reiterated a Buy rating on Alibaba and raised his price target to $247 from $241. The company's 3rd Annual Investor Day reinforced his bullish stance on the company's value proposition, Mubayi tells investors in a research note, adding that Alibaba will thrive as it dominates new markets in China. The analyst predicts strong growth in the cloud computing and financial businesses for the company, and expects Alibaba to continue to invest for future growth on "multiple fronts," including retailing, digital advertising and entertainment, which he believes will be a total addressable market of about RMB80T by the end of 2020

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