Alibaba (BABA) Results Reinforce Positive View - Baird
Baird analyst Colin Sebastian reiterated an Outperform rating and $94 price target on Alibaba (NYSE: BABA) following "solid" Q3 results.
"While slowing GMV growth is a potential yellow flag, we believe concerns about the effects of China's macro conditions on Alibaba are largely overblown," Sebastian commented.
"Overall, we view these results as largely reinforcing a positive view of Alibaba, even in the face of a transitioning China economy," he added.
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Shares of Alibaba closed at $69.54 yesterday.