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An increased appreciation for Alibaba Group prodded RBC Capital Markets to increase its price target on Yahoo (YHOO), which owns a 24% stake in the China e-commerce leader and hit a nearly eight-year high. Analyst Mark Mahaney at RBC said that on Nov. 11, which is China’s version of Cyber Monday in the U.S. and always a major online shopping day, Alibaba disclosed that it generated $5.7 billion in total merchandise volume. That’s up 83% from the Scalper1 News
Scalper1 News