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14/02/2020 15:10

{I-bank focus}Jefferies ups Alibaba Group (09988) to HK$274


[ET Net News Agency, 14 February 2020] Jefferies Research raised its target price for
Alibaba Group (BABA)(09988) to US$280 from US$266 for ADS (or HK$274 from HK$260 for
HK-listed share) and maintained its "buy" rating.
The research house said BABA's December quarter revenue was in line and non-GAAP
earnings were ahead of consensus estimates. It believes the gradual recovery of the
logistics and supply chain will pave the way for capturing long-term opportunities in
digitization post the coronavirus incident.
Jefferies raised its 2020 net profit forecast to RMB131.44 billion from RMB125.07
billion but lowered its 2021 net to RMB156.94 billion from RMB156.95 billion. (KL)

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