Apr 08, 2021 12:25 PM (GMT+8) · EqualOcean
Daiwa released a research report, reducing Alibaba's target price by 7.7% from HK $325 to HK $300, maintaining its "buy" rating. Investors are still concerned about regulatory uncertainty, which has overshadowed the company's fundamentals in the past two quarters, the report said, but the bank stressed that the recent trend in commodity trading volume indicates that customer management revenue is expected to maintain strong growth in the fourth quarter of the fiscal year ending March 2021.