Wedbush Raises Price Target on Alibaba (BABA) to $90 Following 1Q
- Wall Street dips as telecoms slump; AmEx surges
- Microsoft (MSFT) Tops Q1 EPS by 8c
- AMD (AMD) Posts Q3 Operating EPS of 3c; Sees Q4 Revenue Down Sequentially
- AT&T (T) Said to Discuss Idea of Takeover in Time Warner (TWX) Meetings
- Alkermes plc (ALKS) Announces Third ALKS 5461 Phase 3 Met Primary Endpoint in MDD
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial 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
- Alibaba (BABA) PT Raised to $125 at Needham & Company
- Wedbush Cuts Price Target on eBay (EBAY) Following 3Q Beat
- Jefferies Cuts Price Target on Genuine Parts (GPC) to $95 Following 3Q Report
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!