Alibaba (BABA) PT Raised to $110 at Evercore ISI

August 12, 2016 7:16 AM EDT
Get Alerts BABA Hot Sheet
Price: $101.93 -0.44%

Rating Summary:
    35 Buy, 3 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 30 | Down: 50 | New: 20
Trade BABA Now!
Join SI Premium – FREE

News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.

Evercore ISI raised its price target on Alibaba (NYSE: BABA) to $110.00 (from $98.00) following "very solid" June quarter results.

The firm commented, "Alibaba impressed with another quarter of accelerated revenues on strong margins and user metrics while detailing the new segment disclosures laid out at its June 14th Analyst Day in Hangzhou. Reported revenues grew 59% y/y to $4.8bn, or 47% organic growth, well ahead of the FY guided rate of 36%+ (or 48%+ reported). Meanwhile, adj. EBITDA increased 41% y/y to $2.2bn (12% more than expected). Flowing through the quarter’s beat on higher back-half estimates brings our respective FY revenue and EBITDA growth to 50% and 33% y/y (vs. 45% and 22% growth prior) and our Alibaba target price to $110 from $98."

For an analyst ratings summary and ratings history on Alibaba click here. For more ratings news on Alibaba click here.

Shares of Alibaba closed at $91.77 yesterday.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change

Add Your Comment