Oppenheimer Raises price Target on Alibaba (BABA) to $115 Following 1Q

August 12, 2016 9:38 AM EDT
Get Alerts BABA Hot Sheet
Price: $102.78 -1.38%

Rating Summary:
    35 Buy, 3 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 17 | Down: 27 | New: 7
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Oppenheimer reiterated an Outperform rating on Alibaba (NYSE: BABA), and raised the price target to $115.00 (from $110.00), following the company's 1Q earnings report.

Analyst Jason Helfstein commented, "Raising price target from $110 to $115 on extraordinary F1Q:17 results, with GMV/ revenue/EBITDA exceeding consensus by 2%/7%/13%. We are encouraged by BABA's progress in monetization, globalization and transparency. Its Prime-like ecosystem and growth in Cloud computing should support a multi-year growth story. Improved rural & category expansion shows continuation of scalable model vs. largest competitor, who faced growth/profitability issues. In addition, Lazada/ AliExpress and AliCloud all have global potential. Lastly, we still see a long runway for core commerce growth, driven by rural/mobile/Cloud. Target increased on higher marketplace valuation. Incremental segment disclosure should help promote SOTP valuation."

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.

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