After Barclays and Loop Capital Markets gave Alibaba (NYSE: BABA) a Buy rating last month, the company received another Buy, this time from Stifel Nicolaus. Analyst Scott Devitt maintained a Buy rating on Alibaba today and set a price target of $220. The company’s shares opened today at $162.89.
According to TipRanks.com, Devitt is a top 100 analyst with an average return of 22.0% and a 70.4% success rate. Devitt covers the Technology sector, focusing on stocks such as Jumia Technologies AG, Eventbrite Inc, and Alphabet Inc.
Alibaba has an analyst consensus of Strong Buy, with a price target consensus of $218.93, a 34.4% upside from current levels. In a report issued on June 5, Loop Capital Markets also maintained a Buy rating on the stock.
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The company has a one-year high of $207.23 and a one-year low of $129.77. Currently, Alibaba has an average volume of 17.25M.
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