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Fly News Breaks for March 5, 2015
BABA
Mar 5, 2015 | 07:42 EDT
JPMorgan believes brushing, or retail platforms using fake orders to pad their sales, likely contributes an insignificant amount to Alibaba's gross merchandise value. After the Wall Street Journal reported that certain merchants on Alibaba's retail platforms use fake orders to raise their status, JPMorgan estimated yesterday that brushing may contribute a low-to-mid-single digit percentage of Alibaba�s total GMV. The firm points out that Alibaba has been implementing increasingly rigorous regulation of brushing. It keeps an Overweight rating on the stock with a $117 price target.
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