Analysts Are Insanely Bullish on Alibaba Right Now

alibaba-baba-logoChinese e-commerce giant Alibaba Group Holding Ltd (NYSE:BABA) is receiving a slew of bullish analyst notes this morning, on the heels of yesterday’s blockbuster earnings report.

The stock is set to open at fourteen-month highs this morning, with follow-through from yesterday’s report spurred by the following analyst commentary:

  • Goldman adds to Conviction Buy List, bumps price target to $120 from $104 (30% upside).
  • Raymond James upgrades to Strong Buy from Outperform.
  • Macquarie upgrades to Outperform.
  • Needham raises target $105 from $95 (14% upside), citing strong mobile revenue and high margins.
  • RBC Capital Markets boosts price target $110 from $105 (20% upside), lauding the company’s significant improvement in monetization, both on mobile and desktop.

BABA shares rose $0.93 (+1.01%) to $92.70 in premarket trading Friday. The stock has gained 13% year-to-date, nearly doubling the return of the benchmark S&P 500 during the same period.

BABA-2016-08-12

You are viewing an abbreviated republication of ETF Daily News content. You can find full ETF Daily News articles on (www.etfdailynews.com)

Powered by WPeMatico