Goldman Sachs Starts Alibaba (BABA) at Neutral

Goldman Sachs initiated coverage on Alibaba (NYSE: BABA) with a Neutral rating and a price target of $102.00.

Analyst Piyush Mubayi said, "Alibaba dominates the world’s fastest growing e-commerce market, with 279mn buyers and 8.5mn merchants across 118 product categories. It drives globalization of sourcing and distribution, and its proprietary data
technology, powered by an industry-leading cloud computing system, supports outsized transaction flow in its various marketplaces. Near-term prospects appear well discounted, so we launch with a 12 month TP of US$102; however, with steady growth, we estimate equity value could appreciate to $133/share in two years, or a $350bn market capitalization."

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 $99.68 yesterday.

You May Also Be Interested In

• CFRA Starts SpaceX (SPCX) at Sell, 'Our primary concern is that SpaceX’s long-term strategy remains heavily dependent on Starship'
• Gartner (IT) PT Lowered to $164 at UBS on Q2 Outlook
• The Lovesac Co. (LOVE) PT Raised to $20 at DA Davidson Following Q1 Results