Tepper No Longer Owns Alibaba (BABA); 'Misread' China

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Go back to Tepper No Longer Owns Alibaba (BABA); 'Misread' China

Alibaba (BABA) Numbers Cut at RBC Capital

September 14, 2015 3:18 PM EDT

RBC Capital analyst Mark Mahaney lowered estimates and his price target on Alibaba (NYSE: BABA) to $80.00 (from $91.00) following management comments at a recent investor conference. The company indicated GMV growth in the Sept. quarter is mid-single digit % lower than initially anticipated as China macro issues are having an impact on average order values (AOV).

Mahaney highlighted the following key points: "1)Slowing GMV growth: Most notably, the company stated it expects GMV growth to be... More