Analysts at Cantor Fitzgerald on Tuesday reiterated Alibaba Group's buy rating and raised their price target to $110 from $90 in the wake of the Chinese online vendor's earnings. "A differentiated pricing model, strong brand and unmatched scale continue to give Alibaba an unfair competitive advantage relative to peers both in and outside China," said analyst Youssef Squali in a note. Alibaba, which listed in the U.S. market in September, reported robust third-quarter earnings growth. Alibaba shares gained 3% to $104.80.
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