Alibaba (BABA) PT Lowered to $245 at MKM Partners

MKM Partners analyst Rob Sanderson lowered the price target on Alibaba (NYSE: BABA) to $245.00 (from $270.00) while maintaining a Buy rating.

Sanderson commented, "We are lowering estimates and revising our price target to $245 from $270 previous. Most of our revision is lower profit from the core commerce segment as management postpones monetization efforts and braces for a possible economic slow-down. We have rebuilt our model and valuation framework segmenting the core marketplace businesses from the emerging commerce businesses. Our new target values marketplace profits at 25x with about $55 per share of value in Ant, Cloud, other businesses and cash."

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