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Buy Alibaba on trade war pullback - Stifel

  • Stifel adds Alibaba (NYSE:BABA) to its select list after the recent pullback on trade war concerns, the Altaba sale, and near-term growth concerns.
  • Key quote: "The stock now trades at 13x F2021 EBITDA, and is even cheaper on earnings from the company’s core marketplace-based businesses (primarily Tmall and Taobao; 55% of F2019 revenue)."
  • The firm notes that BABA expects to maintain organic growth in the mid-30% range in FY20, which is "significantly" above its peer group.
  • Alibaba shares are up 1.5% pre-market to $158.40.

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BABA--
Alibaba Group Holding Limited