Alibaba Group Holding Ltd (NYSE:BABA) shares slipped -3.11% to $62.62 in pre-market trading, as weaker-than-expected Chinese factory output and business investment data pulled Chinese stock prices down. The Shanghai Composite Index finished off 2.67%. However, Alibaba seemed to have a bright future ahead of it. According to the 21 analysts polled by TipRanks in the last 3 months, 19 are bullish on BABA, while only 2 are neutral. The average 12-month price target is $94.21, representing a 45.77% potential upside from where shares last closed.
Nokia Corporation (ADR) (NYSE:NOK) shares are up 2.15% to $6.65 in pre-market trading, after Goldman Sachs analyst Alexander Duval reiterated a Buy rating and a $9.50 price on the stock. Duval noted, “Nokia has underperformed our EU tech coverage by 18% ytd. In our view this reflects an overly bearish outlook for the wireless market, caution on the proposed ALU deal, and fears of large patent delays. By contrast, we see scope for margin improvement given industry consolidation, while Nokia should have a competitive advantage vs. Ericsson given its converged portfolio. Moreover, Nokia’s management has a strong track record in cost control, underpinning our confidence in its synergy target. Finally, we see scope for sizeable capital returns following the deal.
Aquinox Pharmaceuticals Inc (NASDAQ:AQXP) has been backed by positive insider activity as its lead investor Baker Bros has acquired 2.48 million Aquinox shares at $15.50 per share, sending shares soaring Monday morning. The purchase was part of the previously announced offering of 5.5 million shares. According to the 3 analysts polled by TipRanks in the last 3 months, two are bullish on AQXP, while one is neutral.