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CICC Sticks to Their Buy Rating for Alibaba Group Holding Ltd. (9988)

Tipranks - Tipranks - Sun Apr 12, 12:42AM CDT

In a report released yesterday, from CICC maintained a Buy rating on Alibaba Group Holding Ltd., with a price target of HK$172.00. The company’s shares closed yesterday at HK$125.50.

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Currently, the analyst consensus on Alibaba Group Holding Ltd. is a Strong Buy with an average price target of HK$184.10, a 46.69% upside from current levels. In a report released on April 9, Jefferies also maintained a Buy rating on the stock with a HK$179.00 price target.

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Based on Alibaba Group Holding Ltd.’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of HK$247.8 billion and a net profit of HK$21.02 billion. In comparison, last year the company earned a revenue of HK$236.5 billion and had a net profit of HK$44.03 billion

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