Alibaba (BABA) Buy Rating Maintained at Deutsche Bank

Deutsche Bank maintained a Buy rating on Alibaba (NYSE: BABA) but lowered its price target to $98.00 (from $105.10). The change follows meeting with management. Despite near-term challenges, management has confidence long term, said analyst Alan Hellawell III.

"We have had several opportunities to meet with Alibaba mgmt over the past few weeks. While some proactive measures across the platforms could limit upside surprise shorter term, mgmt continues to evince a confident longerterm view; suggesting that mobile, category expansion and other factors will fuel growth going forward," said Hellawell.

"Combined platform GMV should still meet or exceed market expectations of USD400b by CY15 and USD500bn by CY16. We tweak down earnings est. marginally to reflect NT headwinds while maintaining BUY on a still-intact broader thesis," added analyst.

For an analyst ratings summary and ratings history on Alibaba click here. For more ratings news on Alibaba click here.

Shares of Alibaba closed at $81.99 yesterday.

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