Deutsche Bank Becomes Bullish On Alibaba Shares; Sees 15% Upside For The Stock
In a research report issued today, Deutsche Bank analyst Alan Hellawell initiated coverage on Alibaba Group (NYSE:BABA) with a Buy rating and a $112.70 price target, which represents a potential upside of 15% from where the stock is currently trading.
Hellawell wrote, “Alibaba marked the first stage of its evolution with the roll-out of a largely un-monetized and highly scalable platform. Similar to its peers, with scale firmly established, we see Alibaba pursuing ever deeper forms of monetization through business model shift, heightened competition for the advertising tools on its platform, and the introduction of a growing array of valuable ancillary services. We initiate coverage with a Buy in expectation of further secular growth from core e-commerce, and view largely M&A-driven diversification as potential options to the business.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Alan Hellawell has a total average return of 57.5% and a 76.2% success rate. Hellawell is ranked #36 out of 3367 analysts.