- Truist analyst Youssef Squali reiterated a Buy rating on Alibaba Group Holding Limited (NYSE:BABA) with a price target of $130.
- The analyst expects BABA’s 4Q FY23 results to be slightly ahead of expectations, reflecting improving operational execution and a recovering economy following the Chinese New Year.
- The NBS Online Retail Sales data shows an improving trend throughout 4Q and vs. 3Q.
- He believes BABA’s transformation into a holding company should increase transparency and accountability, boost competitiveness and unlock shareholder value.
- The new holding company structure is Alibaba’s most significant structural change ever; it aimed at making the separate businesses more agile and competitive, allowing them direct access to outside capital and, most importantly, unlocking value for a stock that’s trailed for the last two years.
- Wide application of Alibaba’s generative AI model should drive operational improvements and growth.
- A less hostile regulatory environment in China and prospects for several business units to IPO in the next 12-18 months bode well for BABA shares. He expects critical applications of Tongyi Qianwen in BABA’s e-commerce, cloud computing, logistics, entertainment, and social media platforms to drive product improvement and demand generation.
- Price Action: BABA shares traded higher by 2.65% at $87.60 on the last check Monday.
Novavax Q4 EPS $(2.28) Misses $(0.92) Estimate, Sales $357.40M Miss $383.14M Estimate
Novavax (NASDAQ: NVAX) reported quarterly losses of $(2.28) per share which missed the analyst consensus estimate of $(0.92) by 147.83 percent. This is a 79.61 percent increase over losses of $(11.18) per share from the same period last year.
