Truist lowered the firm’s price target on Alibaba to $100 from $110 but keeps a Buy rating on the shares. The company’s Q1 results show sustained operational execution against a tough macro with high-single-digit growth in gross merchandise volume, reflecting market share stabilization at TTG – Taobao and Tmall Group – that was fueled by higher order frequency, the analyst tells investors in a research note. Alibaba’s FY25 still remains an investment year across key focus areas, which should keep margins in check over the near term, the firm added.
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