RBC Capital Reiterates Outperform on Alibaba (BABA) Following Strong 1Q Results
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RBC Capital reiterated an Outperform rating on Alibaba (NYSE: BABA), and raised the price target to $110.00 (from $105.00), following the company's 1Q earnings report. BABA reported revenues of 32.15B RMB, beating the Street's 30.0B estimate. Non-GAAP EPS of 4.90 RMB also beat the Street at 4.56 RMB.
Analyst Mark Mahaney commented, "BABA posted strong June Qtr results, beating the Street across the board (GMV, Revenue, EBITDA and EPS). Key – Organic Revenue growth of 47% Y/Y was the fastest in 7 quarters, due largely to significant improvement in monetization, both on Mobile and Desktop. Raising estimates & PT – now $110. Reit Outperform."
Shares of Alibaba closed at $91.77 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesRBC Capital, Earnings, Mark Mahaney
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