Alibaba (BABA) Received its Third Buy in a Row
After KeyBanc and Goldman Sachs gave Alibaba (NYSE: BABA) a Buy rating last month, the company received another Buy, this time from Raymond James. Analyst Aaron Kessler maintained a Buy rating on Alibaba today and set a price target of $310.00. The company’s shares closed last Monday at $220.36, close to its 52-week high of $231.14.
According to TipRanks.com, Kessler is a top 100 analyst with an average return of 24.3% and a 73.2% success rate. Kessler covers the Technology sector, focusing on stocks such as TechTarget, Cardlytics, and Criteo SA.
Alibaba has an analyst consensus of Strong Buy, with a price target consensus of $258.88, a 17.7% upside from current levels. In a report issued on February 9, China Renaissance Securities (US) Inc. also maintained a Buy rating on the stock with a $270.00 price target.
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Based on Alibaba’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $10.34 billion. In comparison, last year the company had a net profit of $4.78 billion.
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