Citi analyst Alicia Yap raised the firm’s price target on Alibaba to $149 from $144 and keeps a Buy rating on the shares ahead of the fiscal Q1 results. While the overall recovery pace of China consumption sentiment remains slow, due to easier compares and better than expected promotional traction, Taobao/Tmall gross merchandise volume growth in the June quarter should trend ahead of previous expectations, the analyst tells investors in a research note.
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