Citi analyst Alicia Yap raised the firm’s price target on Alibaba to $151 from $149 and keeps a Buy rating on the shares. The company reported a “solid beat result” for fiscal Q1, attributable to initial fruition of its strategic restructuring efforts, the analyst tells investors in a research note. With “robust growth momentum” and narrowing loss from AIDC to continue, the firm expects steady to gradual improvement of Alibaba’s consolidated EBITA margins.
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