Atlantic Equities - Alibaba Group Holding Ltd. Sponsored ADR (A117ME) Investing to reinforce dominant position

Report

Atlantic Equities

James Cordwell

Investing to reinforce dominant position

We reiterate our Overweight recommendation on Alibaba, seeing recent concerns regarding slowing advertising revenue growth and margin pressure from New Retail investments as creating an attractive entry point. Trends could remain muted through H1 FY19 due to tough comps, but we believe Alibaba's ongoing dominance in on-, and increasingly off-line retail will drive a reacceleration in top and bottom line growth, leaving the stock's 23x CY19 non-GAAP PE attractive.

17/04/2018 19 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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