Stifel analyst Scott Devitt elevated Alibaba Group Holding Ltd.
shares to his firm's "select list" on Friday as he reiterated a bullish view of the company in the face of escalating trade tensions between the U.S. and China. Alibaba shares are up 1.3% in premarket trading Friday. "While it is impossible to predict the timing of resolution of certain macro events, we believe the recent pullback has created an opportunity to own shares with a long-term investment horizon," he wrote. "Cross-border business between the U.S.
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