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<Research>Nomura Lifts Alibaba's TP to USD170 on Temporary Victory in Instant E-commerce Scale
Recommend 78 Positive 125 Negative 42 |
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BABA-W's (09988.HK) (BABA.US) instant retail e-commerce generated growth, but it also heaped temporary pressure on profit margins, Nomura commented in its research report. Alibaba announced that it recorded an average of 80 million orders per day for instant e-commerce in August, which Nomura considered a temporary victory compared to its estimated daily average of 90 million orders for MEITUAN-W (03690.HK). Previously, Alibaba's order volume was only about 40% of Meituan's. Nomura raised its target price for Alibaba (BABA.US) from USD152 to USD170, with a Buy rating. AAStocks Financial News |
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