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TORONTO, June 12, 2017 -- Tokai National Partners has released an online report on “Alibaba” after commenting on its increased valuation standing at over US$360 billion.
Alibaba Group Holding is, without doubt, the largest and most valuable company in Asia; beating its biggest competitor Tencent by more than 8 percent after news was released on a bullish sales forecast for 2017-2018.
Tokai National Partners reported that its shares rallied over 13 percent hitting highs of 142.30 on the New York Stock Exchange, beating every single analyst prediction.
“Alibaba has surpassed all recommendations by analysts viewing the position,” said George Marshall, Head of Corporate Trading at Tokai National Partners.
Alibaba, the world's leading and largest online shopping platform, has predicted that revenue will increase anywhere by 45-49 percent in the year ending in 2018. Its previous fiscal year in 2017 had sales rise 56 percent alone to its record-breaking 158.28 billion Chinese Yuan ($23bn USD).
With market sentiment concerned about China’s economy and any slow growth on the horizon, Alibaba has put these doubts at bay with its record-breaking rise in value.
“Alibaba has just shown the world that there is no slow growth in China, in fact, it's the complete opposite,” said Joshua Atkinson, Director of Corporate Equities at Tokai National Partners.
The Company is expanding into untapped markets and exploring new sources of income. Tokai National Partners have suggested that Alibaba is spending billions of dollars on its new businesses to ensure its dominance over its biggest rivals Tencent, who own WeChat a popular messaging and networking application in Asia.
About Tokai National Partners
Tokai National Partners is one of the world’s leading independent investment companies, specializing in private wealth management, asset management, and institutional corporate financing.
Media Contact Mr. Adrian Peterson | Head of Global Research | [email protected] Website: https://tnpsecurities.com/ | Switchboard: +81 3 4590 2821 Address: 19th Floor Akihabara UDX Building, 4-14-1, Soto-Kanda, Chiyoda-ku, Tokyo, Japan.
