SoftBank Corp , Alibaba Group Holding Ltd (NYSE:BABA) and Foxconn Technology Group announced an agreement under which Alibaba and Foxconn will each invest JPY 14.5 billion in SoftBank Robotics Holdings Corp. (“SBRH”), the SoftBank Group’s intermediate holding company responsible for its robotics business. Under the agreement, upon the completion of the investment by Alibaba and Foxconn, SoftBank’s SBRH share ownership ratio will become 60%, and Alibaba and Foxconn will each hold ownership stakes of 20%.

SoftBank, Alibaba and Foxconn will build a structure to bring Pepper and other robotics businesses to global markets, and cooperate with the aim of spreading and developing the robotics industry on a worldwide scale.

Masayoshi Son, Chairman & CEO of SoftBank, said, “Since foundation, we have followed our corporate philosophy of ‘Information Revolution – Happiness for everyone.’ I am very excited that we will partner with Alibaba and Foxconn, and challenge to go global with our robotics business, including Pepper, as a first step to realize our vision. To bring more smiles to people around the world, we will aim to be the No.1 robotics company.”

Jack Ma, Alibaba Group Founder and Executive Chairman, said, “As we enter the data technology era, robotics will become a critical field that catalyzes technological breakthroughs in numerous sectors such as healthcare, public services, research and at home. Our partnership with SoftBank and Foxconn combines the best hardware and software talent in the industry to pave the way for robotics research and development. We are delighted to play an active role in the emerging field of robotics, that with cutting-edge technology and transformative products and services, can positively impact millions of lives.”

Terry Gou, Founder and CEO of Foxconn Technology Group, said, “Foxconn is pleased to be partnering with SoftBank and Alibaba as part of our effort to drive the advancement of robotics engineering. This is a strategic area of focus for our company as we continue to advance our capabilities in intelligent manufacturing and realize our Industry 4.0 vision.” He added, “As a leading global technology company, Foxconn is committed to investing in innovation that enables us to deliver cutting-edge solutions to our customers and that supports our goal of leveraging technology to bring greater convenience to the lives of consumers around the world.” (Original Source)

Shares of Alibaba Group closed yesterday at $86.8 . BABA has a 1-year high of $120 and a 1-year low of $80.03. The stock’s 50-day moving average is $87.59 and its 200-day moving average is $91.32.

On the ratings front, Alibaba has been the subject of a number of recent research reports. In a report issued on June 16, J.P. Morgan analyst Alex Yao assigned a Buy rating on BABA, with a price target of $109, which implies an upside of 25.6% from current levels. Separately, on June 10, HSBC’s Chi Tsang maintained a Buy rating on the stock and has a price target of $124.

According to, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Alex Yao and Chi Tsang have a total average return of 16.3% and 22.8% respectively. Yao has a success rate of 64.7% and is ranked #552 out of 3629 analysts, while Tsang has a success rate of 64.0% and is ranked #467.

The street is mostly Bullish on BABA stock. Out of 20 analysts who cover the stock, 20 suggest a Buy rating . The 12-month average price target assigned to the stock is $105.23, which implies an upside of 21.2% from current levels.