- 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.
Cryptocurrency Flow Up More Than 3% In 24 hours
Over the past 24 hours, Flow's (CRYPTO: FLOW) price rose 3.38% to $3.08. This continues its positive trend over the past week where it has experienced a 19.0% gain, moving from $2.57 to its current price. As it stands right now, the coin's all-time high is $42.40.
