After Jefferies and MKM Partners gave Alibaba (NYSE: BABA) a Buy rating last month, the company received another Buy, this time from Merrill Lynch. Analyst Eddie Leung maintained a Buy rating on Alibaba yesterday and set a price target of $221. The company’s shares opened today at $164.90.
Leung has an average return of 15.6% when recommending Alibaba.
According to TipRanks.com, Leung is ranked #599 out of 4878 analysts.
Alibaba has an analyst consensus of Strong Buy, with a price target consensus of $234.71, representing a 42.3% upside. In a report issued on September 12, MKM Partners also maintained a Buy rating on the stock with a $270 price target.
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Based on Alibaba’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $1.36 billion. In comparison, last year the company had a net profit of $2.14 billion.
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