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Benzinga
Benzinga
Business
Anusuya Lahiri

Alibaba's Share Price Recovery Earns It Bullish Calls From Some Brokerages

Alibaba BABA NYSE Goldman Sachs Nasdaq

Some of Wall Street's biggest brokerages have reiterated their bullish calls for Alibaba Group Holding Limited (NYSE:BABA), indicating more gains after it surged from a mid-March low, Bloomberg reports.

Over the past week, more than ten brokerages, including Citigroup and Goldman Sachs, have reinforced their buy calls. Speculation over relaxation in the tech sector crackdown buoyed bets on Alibaba, which has seen its shares in Hong Kong soar over 60% from the March low, beating the Hang Seng Tech Index, which gained 38%.

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