Wedbush Raises Price Target on Alibaba (BABA) to $90 Following 1Q
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
Wedbush reiterated a Neutral rating on Alibaba (NYSE: BABA), and raised the price target to $90.00 (from $80.00), following the company's 1Q earnings report. Revenue grew to $4.84 billion and topped consensus of $4.54 billion. Adjusted EBITDA of $2.1 billion topped consensus of $2.0 billion on better-than-expected revenue.
Analyst Gil Luria commented, "We see Alibaba as a fast-growing global ecommerce market leader, but believe a slowing Chinese economy will cap share appreciation. However, June quarter results do not show signs of deceleration yet."
Shares of Alibaba closed at $91.77 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Credit Suisse Downgrades Himax Technologies (HIMX) to Neutral
- UBS Downgrades Dynegy (DYN) to Sell
- Neurocrine Bio. (NBIX) PT Lowered to $56 at Jefferies Amid Adult Tourette's Data
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Related EntitiesEarnings, Gil Luria
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!