In a series of new reports, Raymond James analysts updated their outlook for three big tech names that reported earnings this week.
Despite mixed numbers and mixed market reactions, analysts Aaron Kessler and Michael Turits remain bullish on Alibaba Group Holding Ltd BABA, Microsoft Corporation MSFT 0.69% and Amazon.com, Inc. AMZN 2.08%.
Despite weaker-than-expected Tmall gross revenue merchandise volume growth, there were still plenty of things to like about Alibaba’s quarter. “We maintain our Outperform rating given Alibaba’s leadership position in e-commerce in China, improving monetization rate, and attractive valuation in our view,” Kessler explains. The firm has lowered its price target from $95 to $85.
The market sold-off Amazon in a big way in early Friday trading, but Kessler continues to expect…
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