In a research report released today, Cantor analyst Youssef Squali maintained a Buy rating on shares of Alibaba Group Holding Ltd (NYSE:BABA) with a price target of $95, after attending Alibaba’s first Investor Day at its HQ in Hangzhou, China. BABA is currently trading at $77.99, up $2.54 or 3.37%.

Squali wrote, “Alibaba’s management displayed a deep bench, and reviewed its various businesses with an emphasis on its logistics segment, Cainiao Network, its cloud computing platform, Aliyun and its financial arm, Ant Financial. CFO also predicted FY17 revenue growth ahead of consensus, QTD GMV growth, which is slightly ahead of our estimates and reiterated its LT outlook.”

“With the business continuing to operate at the higher end of expectations, management is intent on serving 2B customers worldwide up from 500M today. This requires BABA to be successful in further penetrating the Chinese market, especially in rural areas, but also expanding into new geos, into new product segments and into big data. BABA is leveraging a unified ID to better serve clients across its various properties,” the analyst added.

According to, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Youssef Squali has a yearly average return of 14% and a 60% success rate. Squali has a -6.2% average return when recommending BABA, and is ranked #20 out of 3971 analysts.