- Alibaba Group Holding Ltd BABA just hosted day 2 of its 2021 investor day led by Chair and CEO Daniel Zhang and CFO Maggie Wu.
- Goldman Sachs analyst Piyush Mubayi said that Alibaba management expressed their constructive outlook for China's long-term development despite near-term macro weakness.
- Related Content: Read Truist's Take On Alibaba Based On Annual Investor Day 1
- Alibaba is investing amid heightened competition in China e-commerce as "offense is the best defense in China Commerce," Mubayi added.
- Mubayi reiterated a Buy on Alibaba with a price target of $215, implying an upside of 76%.
- Price Action: BABA shares traded lower by 3.02% at $118.41 in the premarket session on the last check Monday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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