[ET Net News Agency, 9 July 2020] Jefferies Research lifted its target price for
Alibaba Group (09988) to HK$300 from HK$294 and maintained its "buy" rating.
The research house reaffirmed Alibaba as its tier-one top pick as it demonstrates strong
execution with multiple business models, and is at the sweet spot of a recovery story
backed by strong technological strengths.
In the June quarter, Jefferies expects Alibaba to deliver solid results with the core
marketplace as a strong cash cow and customer management revenue offering high ROI (return
on investment) to merchants. It expects non-GAAP net income to shareholders to reach
Rmb35bn. (KL)