TECH - Alibaba's Strategy Shift Aims for Turnaround with Enhanced Logistics and Share Buybacks Earns Analyst Confidence | Benzinga
Mizuho analyst James Lee reiterated a Buy rating on Alibaba Group Holding Limited (NYSE:BABA) with a price target of $95.
Alibaba announced the withdrawal of the Cainiao IPO and listing application for the Hong Kong Stock Exchange. Cainiao, Alibaba’s logistics and shipping division, was the subject of the aborted IPO, the analyst noted.
Also Read: Alibaba’s Logistics Arm Cainiao Boosts Employee Bonuses, Plans Major Incentive Overhaul
Management cited strategic and current market considerations for the decision. Strategically, Alibaba plans to integrate Cainiao with core e-commerce operations to regain market share and drive growth.
Additionally, Lee flagged the company’s efforts to make sustained infrastructure investments to expand Cainiao’s global footprint.
Furthermore, Cainiao’s financial information for the IPO application has expired, ...