Alibaba (BABA) Gets a Buy Rating from Oppenheimer

Oppenheimer analyst Jason Helfstein maintained a Buy rating on Alibaba (BABAResearch Report) today. The company’s shares closed last Monday at $224.31, close to its 52-week high of $231.14.

According to TipRanks.com, Helfstein is a top 100 analyst with an average return of 21.2% and a 69.5% success rate. Helfstein covers the Technology sector, focusing on stocks such as Spotify Technology SA, IAC/InterActiveCorp, and ANGI Homeservices.

Currently, the analyst consensus on Alibaba is a Strong Buy with an average price target of $255.64, a 15.6% upside from current levels. In a report issued on February 9, China Renaissance Securities (US) Inc. also maintained a Buy rating on the stock with a $270.00 price target.

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Based on Alibaba’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $10.34 billion. In comparison, last year the company had a net profit of $4.78 billion.

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