Alibaba (BABA) Price Target Lifted to $132 at BofA/Merrill Lynch

BofA/Merrill Lynch analyst Eddie Leung raised his price target on Buy-rated Alibaba (NYSE: BABA) for the second time since launching coverage on October 14th. Today the target price goes to $132.00 (from $122.00).

Leung, who made the call before the official $9.3B 'Singles Day' total, cited the company's growth momentum extending into the event. He revises up 15-17E adj. EDITDA moderately by 1-5%.

FY 2015 EPS goes from $11.14 to $11.34, FY 2016 EPS goes from $11.68 to $12.48 and FY 2017 EPS goes from $14.97 to $15.89.

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 $119.15 yesterday.

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