At the World Economic Forum in Davos, Switzerland this week, Alibaba CEO Daniel Zhang told delegates that China is a “self-sufficient market,” and seemed to downplay the effect of the trade conflict on consumption in China: “China has a lot of opportunities. Trade war is only one matter,” Zhang said.
On Friday, MKM Partners’ Rob Sanderson raised its price target for the Chinese commerce giant to $245, writing that Alibaba’s stock is capable of weathering the macroeconomic concerns that dragged down shares last year, citing opportunities in its Alibaba’s cloud division, a moderate spending outlook and other positive factors.
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