Alibaba's (BABA) Price Target Raised to $138 at Deutsche Bank

September 29, 2016 8:57 AM EDT
Get Alerts BABA Hot Sheet
Price: $96.12 --0%

Rating Summary:
    36 Buy, 2 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 10 | Down: 16 | New: 50
Trade BABA Now!
Join SI Premium – FREE

Get the Pulse of the Market with's Pulse Picks. Get your Free Trial here.

Deutsche Bank maintained a Buy rating on Alibaba (NYSE: BABA) and raised its price target to $138.00 (from $109.00). Analyst Alan Hellawell said China’s online consumers remain steadfast in their preference for Alipay.

"Our recent payments survey reveals Alipay ranks as the clear #1 online payment method, supporting an unrivalled 40.8% of all online transactions, and 37.4% of O2O consumption. With survey respondents moreover revealing greater intentions to expand use of Alipay over other alternatives, our latest forecasts halt a previously assumed market share slide to competitors. We maintain Buy and lift TP 27% to USD138 on rising valuation of Ant and valuation roll-over into 2017," said Hellawell.

The analyst added, "Alipay has evolved from a break-through payment platform to a more general onramp connecting consumers and merchants with a growing host of financial services; from wealth management (Yu’E Bao) to credit rating (Sesame Credit), to consumer financing (Ant Check Later) and insurance. While Alipay ebbs in its dominance of the Ant P&L (from over 70% of 2014 revs to 43% in 2017), ancillary financial services will expand to drive growth over the next several years."

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 $108.75 yesterday.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst EPS View

Related Entities

Deutsche Bank

Add Your Comment