- Truist analyst Youssef Squali notes that Day 1 of Alibaba Group Holding Ltd's (NYSE:BABA) 6th Annual Investor Day was an opportunity for the management to showcase the depth of its bench, shortly after the management reshuffling, and to do a deep dive into its various segments namely China Retail Marketplace, New Consumers Marketplaces, Local Consumer Services, Lazada, and Cianiao.
- There were no material disclosures or significant shifts in positioning or strategy.
- Related Content: Read Why This Swiss Firm Counts Alibaba Among Major Holdings
- Squali lauded the management for outlining the broader themes around the short and longer-term opportunities for Alibaba's various segments, the growth runway still ahead, and the need for sustained investments to fan growth in the newer initiatives amid the ongoing pandemic recovery and the slowing economy.
- Squali has a Buy and a $200 price target on Alibaba, implying a 66.3% upside.
- Price Action: BABA shares traded lower by 1.28% at $118.71 in the premarket session on the last check Friday.
