Alibaba (BABA) PT Raised to $104 at Baird Amid 'Impressive Growth'
- Record-setting rally pushes on as S&P ends week up 3 percent
- Trump's Cohn Pick Most Bullish Sign Yet for Banks - Cowen
- Unusual 11 Mid-Day Movers: (IDXG) (INVN) (EBS) Higher; (SCON) (DTEA) (DLTH) Lower (more...)
- 21st Century Fox (FOXA) offers to acquire Sky for GBP10.75/share
- Coca Cola (KO) Announces James Quincey to Succeed Muhtar Kent as CEO; Kent to Continue as Chairman
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
Baird analyst Colin Sebastian reiterated an Outperform rating and raised his price target on Alibaba (NYSE: BABA) to $104.00 (from $94.00), noting impressive growth driven by commerce strength, Cloud momentum.
Sebastian commented, "F1Q17 performance highlighted by accelerating revenue growth(+59% Y/Y vs. +31% F4Q16; +47% ex-Lazada/Youku), Alibaba reported a strong top-line and EBITDA beat while growth in secondary segments(AliCloud +156% Y/Y) continues to surprise to the upside. Importantly, mobile monetization rates now exceed desktop for the first time in company history, which should eliminate investor concerns around the revenue impact of mobile mix-shift, and is reflective of Alibaba's value proposition to both merchants and buyers. Reiterate Outperform, new $104 price target."
Shares of Alibaba closed at $87.33 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- BMO Capital Cuts Price Target on Cooper Cos. (COO) Following 4Q Results
- Baird Raises Price Target on Itron (ITRI) to $73 After Meeting with Management
- FBR Capital Raises Price Target on Methode Electronics (MEI) Following Better Than Expected 2Q
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesRobert W Baird
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!