Subscribe to Updates

    Get the latest creative news from CRYPTO NOUNCE.

    What's Hot

    Croda International Plc (LON:CRDA) Receives Average Recommendation of “Hold” from Analysts

    March 29, 2023

    The Evolution of Media and Telecom

    March 29, 2023

    1,100+ notable signatories just signed an open letter asking “all AI labs to immediately pause for at least 6 months”

    March 29, 2023
    Facebook Twitter Instagram
    Facebook Twitter Instagram Vimeo
    Cryptonounce.com
    Contact
    • Business
      • Deals
      • investors
      • IPO
      • Startups
      • Wall Street
    • Markets
      • Bonds
      • Commodities & Futures
      • Currencies
      • Funds & ETFs
      • Stocks
    • Crypto
      • Alticoins News
      • Binance News
      • Bitcoins News
      • Blockchain News
      • Ethereum News
      • Token Sales News
      • XRP News
    • Technology
      • Artificial Intelligence
      • Big Data
      • Cloud Computing
      • Cybersecurity
      • Gaming
      • Internet of Things
      • Mobile
      • Social Media
      • Transportation
      • VR & AR
    • FinTech
    • Personal finance
    • Grides
      • Crypto
      • FinTech
      • Investing
      • Personal Finance Guides
      • Techonology
    • Tools
      • Coins
      • ICO List
      • Organigations
      • Events
    Cryptonounce.com
    Home » Goldman Sachs adds Alibaba to conviction buy list, says shares can rise more than 25%
    Investing

    Goldman Sachs adds Alibaba to conviction buy list, says shares can rise more than 25%

    AdmincryptBy AdmincryptJanuary 9, 2023No Comments2 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr WhatsApp VKontakte Email
    Share
    Facebook Twitter LinkedIn Pinterest Email


    The outlook for Alibaba has improved in 2023 as China reopens, according to Goldman Sachs. Analyst Ronald Keung added the stock to his conviction buy list, saying Alibaba is the best way to play a rebound in the China internet sector. “We see Alibaba at 11X 2023 adj. P/E as the best value stock proxy to enjoy advertising recovery, fintech (via. 33%-owned Ant) and cloud structural growth, add to CL as we believe the worst is behind us after two years of downward earnings revisions with the largest room for valuation multiple repair amongst the mega-caps as its top line growth resumes and 2022-25E earnings resume to mid-teens growth,” Keung wrote in a Monday note. Shares of Alibaba tumbled 25% in 2022, and roughly 49% in 2021, as China’s stringent Covid policies during the pandemic dampened investor sentiment on the stock. Still, the stock is up more than 21% a little more than a week into 2023, and the analyst expects further upside. He expects the China internet sector will get a lift following easing Covid restrictions, as well as a macro recovery expected in the second quarter. Specifically, Alibaba is expected to have double-digit advertising and commission growth from a rebound in apparel and cosmetics, an easing in the livestreaming shopping format that pressured the company’s Taobao/Tmall platforms during the pandemic, further growth in AliCloud and International, as well as the stock’s attractive valuation, according to the note. “We expect BABA’s market share loss to gradually stabilize, and remain constructive on the company’s ability to expand its total addressable market and drive continuous value-add for merchants/consumers in the long run based on its three strategic pillars,” Keung said. The firm’s $138 price target, raised from $133, represents more than 28% upside for the stock. The company’s shares are up more than 4% in the premarket Monday. — CNBC’s Michael Bloom contributed to this report.



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr WhatsApp Email
    Previous ArticleModel hosting patterns in Amazon SageMaker, Part 1: Common design patterns for building ML applications on Amazon SageMaker
    Next Article IRS sent 12 million refunds for 2020 unemployment tax break
    Admincrypt
    • Website

    Related Posts

    BABA soared Tuesday, but ‘Fast Money’ traders are wary. Here’s why

    March 28, 2023

    Goldman on how to invest in the coming $7 trillion A.I. boom

    March 28, 2023

    Hedge funds are dumping these stocks most exposed to tight financial conditions

    March 28, 2023

    Nvidia will be the ‘grand marshal’ of the A.I. bubble ‘parade,’ says Josh Brown

    March 28, 2023

    Leave A Reply Cancel Reply

    Our Picks
    • Facebook
    • Twitter
    • Pinterest
    • Instagram
    • YouTube
    • Vimeo
    Don't Miss
    Funds & ETFs

    Croda International Plc (LON:CRDA) Receives Average Recommendation of “Hold” from Analysts

    By AdmincryptMarch 29, 20230

    Croda International Plc (LON:CRDA – Get Rating) has been given an average rating of “Hold”…

    The Evolution of Media and Telecom

    March 29, 2023

    1,100+ notable signatories just signed an open letter asking “all AI labs to immediately pause for at least 6 months”

    March 29, 2023

    What Sam Bankman-Fried’s revised bail terms entail

    March 29, 2023

    Subscribe to Updates

    Get the latest creative news from CRYPTO NOUNCE.

    NEWS
    • Business
    • Crypto
    • Blockchain
    • Markets
    • Technology
    FEATURED SECTIONS
    • Coins
    • ICO List
    • Organigations
    • Events
    • Grides
    FEATURED LINKS
    • Story of the day
    • Videos
    • Infographics
    CONNECT WITH US
    • Facebook
    • Twitter
    • Telegram
    • LinkedIn
    • Pinterest
    ABOUT US
    • Contact
    • Advertise
    • Sitemap
    Copyright © 2023 Cryptonounce All rights reserved. Cryptonounce.
    • Home
    • Buy Now

    Type above and press Enter to search. Press Esc to cancel.

    Sign In or Register

    Welcome Back!

    Login to your account below.

    Lost password?