Capital keeps a Buy rating and $115 price target for Alibaba (BABA). The firm is not overly concerned about a disappointing outlook from the company’s competitor PDD Holdings (PDD) and the meaningful devaluation in its stock this week, the analyst tells investors in a research note. Loop also sees a positive event path for Alibaba with ongoing share stabilization, monetization efforts, leverage in stock repurchase, and a likely inclusion in the Hong Kong Stock Connect, the firm added.
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