Alibaba gets a wave of bullish notes from Wall Street. Why the stock could be attractive again
After Alibaba reported stellar earnings last week, the stock immediately headed south anyway, falling 6% on Friday. But investors seem to have had a change of heart over the long holiday weekend and on Tuesday, as the Street weighed in with a flurry of bullish analyst comments on the quarter, lifting earnings estimates and price targets.
To review, Alibaba Group Holding reported revenue of $16.1 billion for the March quarter, up 22% from a year ago, and ahead of the Street consensus at $15.2 billion. Non-GAAP... Subscribe or Sign In to continue reading.
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