Atlantic Equities - Alibaba Group Holding Ltd. Sponsored ADR (A117ME) Aggressive investment driving sales acceleration

Report

Atlantic Equities

James Cordwell

Aggressive investment driving sales acceleration

Strong FY19 revenue guidance for over 60% YoY growth implies an acceleration in the core online business and faster than anticipated growth within New Retail. Aggressive investment to drive this topline performance will pressure margins, but we expect overall profits to continue to grow robustly and investors are likely to increasingly focus on the longer-term potential given the company's growing track record. We remain Overweight and lift our PT to $235 from $215.

08/05/2018 7 EN

Underlying

Alibaba Group Holding Ltd. Sponsored ADR

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US01609W1027 Stuttgart Stock Exchange Cayman Islands

Provider

Atlantic Equities

Formed in 2003 by an established team from Cazenove, one of the most respected investment banks in the UK, Atlantic Equities conducts and publishes fundamental, bottom up research on mid and large cap US companies.

Atlantic provide order execution through a wide range of DMA products and algorithmic trading suites.

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Analysts

James Cordwell

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