Alibaba (BABA), Yahoo! (YHOO) PT Raised at Evercore ISI

Evercore ISI analyst reiterated a Buy rating and lifted his price target on Alibaba (NYSE: BABA) to $94.00 (from $88.00) following solid Q2 results. As a result, the analyst raised his price target on Yahoo! (NASDAQ: YHOO) to $40 from $38.

Sena commented, "Alibaba reported a solid FY2Q16 with revenues and EBITDA 5% and 7% ahead of our estimates driven by strength in mobile monetization, which at a 2.39% was just 8bps shy of desktop. Upside was noted within its Cloud Computing business as well. Flowing through this upside to our FY3Q16 and FY2016 estimates brings our target price to $94 (from $88) on BABA and to $40 (from $38) on YHOO, given YHOO's 15% stake in BABA."

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 $79.44 yesterday.

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