New Street Research - Alibaba Group Holding Ltd. Sponsored ADR (A117ME) Alibaba (Neutral, TP: $95 from $97): Managing expectations

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New Street Research

EUR 717.48 For Business Accounts Only

Alibaba (Neutral, TP: $95 from $97): Managing expectations

â€‹Alibaba Group has provided an atypical mid-quarter update to analysts, apparently to rein in optimistic expectations after a better-than-expected Q4 14 report. We have been more bearish than our peers so this only results in modest downgrades to our forecasts but it is enough for us to lower our target price from $97 to $95 even with a roll-over of our valuation from FY14 to FY15. We believe the near-term outlook remains challenging and the guidance update underscores that. We remain at Neutral.

11/06/2015 1 EN

Underlying

Alibaba Group Holding Ltd. Sponsored ADR

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US01609W1027 Stuttgart Stock Exchange Cayman Islands

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New Street Research

Provided by our team of experienced analysts, our work is idea driven, based on independence of thought, sector expertise, and firmly focussed on fundamentals and valuation.

New Street Research is an independent, partner-owned, research firm specialising in equity and debt research. Our equity research embraces the following sectors:

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Pan European Telecom Services and Cable

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