Citibank has upped its price target for Global Sources to 40x 2008 projected earnings. That pushes the price target about $10 above its current position to $45.
A similar valuation would imply that, even 9% down as it is today, Alibaba is over-valued by about 3.5 times. And that's based on very optimistic projections for next year. So, look to buy only when the price drops below HK$10 if you think Citibank's advice on GSOL is of any value.
Sent via BlackBerry.
Update: There's a bit more in-depth comment on the Citi report here at Seeking Alpha.
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