Oppenheimer analyst Jason Helfstein maintained a Buy rating on Alibaba (BABA) today and set a price target of $185. The company’s shares closed on Friday at $151.32.
Helfstein said:
“We are updating our estimates to reflect continued macro headwinds, partially offset by more favorable FX outlook. We left our F19E estimates mostly unchanged, but now expect softer F20E core commerce revenue, largely caused by slower consumption and eCommerce macro trends. In addition, we also expect investments at and DME to have a slightly bigger impact on F20E margins. Our $185 price target is unchanged. Maintaining Outperform rating as we expect US-China tension to ease after recent trade talks.”
According to TipRanks.com, Helfstein is a top 100 analyst with an average return of 14.2% and a 57.8% success rate. Helfstein covers the Technology sector, focusing on stocks such as Endurance International, ANGI Homeservices Inc, and Spotify Technology SA.
Currently, the analyst consensus on Alibaba is a Strong Buy with an average price target of $198.16, a 31.0% upside from current levels. In a report issued on January 8, Macquarie also maintained a Buy rating on the stock with a $220 price target.
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The company has a one-year high of $211.70 and a one-year low of $129.77. Currently, Alibaba has an average volume of 19.66M.
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