Alibaba (BABA) Gets a Buy Rating from KeyBanc

In a report released today, Hans Chung from KeyBanc maintained a Buy rating on Alibaba (BABAResearch Report), with a price target of $248.00. The company’s shares closed last Monday at $188.56.

According to TipRanks.com, Chung is a 1-star analyst with an average return of -6.8% and a 32.8% success rate. Chung covers the Technology sector, focusing on stocks such as Tencent Music Entertainment Group, Tencent Holdings, and CooTek (Cayman).

Currently, the analyst consensus on Alibaba is a Strong Buy with an average price target of $260.15, implying a 40.0% upside from current levels. In a report issued on March 13, RBC Capital also maintained a Buy rating on the stock with a $235.00 price target.

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Based on Alibaba’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $161 billion and net profit of $52.17 billion. In comparison, last year the company earned revenue of $117 billion and had a net profit of $33.12 billion.

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Alibaba Group Holding Ltd. engages in providing online and mobile marketplaces in retail and wholesale trade. It operates through the following business segments: Core Commerce; Cloud Computing; Digital Media and Entertainment; and Innovation Initiatives and Others. The Core Commerce segment comprises of platforms operating in retail and wholesale. The Cloud Computing segment consists of Alibaba Cloud, which offers elastic computing, database, storage and content delivery network, large scale computing, security, management and application, big data analytics, a machine learning platform, and other services provide for enterprises of different sizes across various industries. The Digital Media and Entertainment segment relates to the Youko Tudou and UC Browser business. The Innovation Initiatives and Others segment includes businesses such as AutoNavi, DingTalk, Tmall Genie, and others. The company was founded by Chung Tsai and Yun Ma on June 28, 1999 and is headquartered in Hangzhou, China.