Alibaba (BABA) PT Raised to $110 at Baird
- Noble Energy (NBL) to Acquire Clayton Williams Energy (CWEI) for $2.7B in Cash and Stock
- Nasdaq hits record; bank earnings validate Wall St. rally
- Intrawest Resorts (SNOW) Exploring a Possible Sale - Reuters
- Alibaba (BABA) Has No Plans to Acquire Rest of Groupon (GRPN) - Source
- Time (TIME) Said to Soon Begin Discussions with Interested Buyers - Bloomberg
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
Baird analyst Colin Sebastian reiterated an Outperform rating and raised his price target on Alibaba (NYSE: BABA) to $110.00 (from $104.00).
Sebastian commented, "F2Q17 reported solid results with revenues slightly missing our expectations (core commerce deceleration) but a nice EBITDA beat. While still small, growth in secondary segments is robust, in particular AliCloud +130% Y/Y. Management continues to execute on its "mobile-first" e-commerce strategy, and mobile engagement and monetization trends remain positive. Focus on growth investments may lead to non-linear margin expansion in the near term, but long-term fundamental trends remain intact. Maintain Outperform rating, new $110 price target."
Shares of Alibaba closed at $98.51 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Wells Fargo Upgrades Tiffany & Co. (TIF) to Market Perform; Demand Trends Stabilizing
- Wedbush Raises Price Target on Wolverine World Wide (WWW) After Meeting with Management
- UPDATE: RBC Capital Upgrades Colfax Corporation (CFX) to Outperform
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!