CCB International raised the firm’s price target on Alibaba to $145 from $141.40 and keeps an Outperform rating on the shares. The analyst expects Alibaba’s fiscal Q1 total revenue to have grow 10% year-over-year in to RMB 227B, 2% above the consensus, due to a better performance by CMR, international commerce, and Cainiao. The firm believes Taobao Tmall’s strategic shift to users is paying off. Alibaba is its top sector pick.
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