Alibaba's stock looks appealing amid the current market vola...
Alibaba's stock looks appealing amid the current market volatility as the coming IPO of the company's cloud unit is likely to provide an opportunity to unlock value in Alibaba's assets, Nomura analyst Jialong Shi says in a research note.
The brokerage estimates the company's September quarter revenue grew 8% on year and consolidated EBITA likely rose 13% on year.
China's recent official data shows a persistently cautious sentiment among Chinese consumers which may lead to slower e-commerce growth, but $Alibaba(BABA.US$ , $Vipshop(VIPS.US$ and $NetEase(NTES.US$ remain attractive stocks in the next three to six months, the analyst adds.
Nomura maintains a buy rating and $142 target price on Alibaba's ADR.
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