After Morgan Stanley and Robert W. Baird gave Alibaba (NYSE: BABA) a Buy rating last month, the company received another Buy, this time from Barclays. Analyst Gregory Zhao maintained a Buy rating on Alibaba yesterday and set a price target of $220. The company’s shares closed on Friday at $188.91.
According to TipRanks.com, Zhao is a 4-star analyst with an average return of 8.8% and a 66.0% success rate. Zhao covers the Technology sector, focusing on stocks such as NetEase Inc, Tencent, and Baidu.
Alibaba has an analyst consensus of Strong Buy, with a price target consensus of $210.67, implying an 11.5% upside from current levels. In a report issued on April 1, Merrill Lynch also reiterated a Buy rating on the stock with a $215 price target.
The company has a one-year high of $211.70 and a one-year low of $129.77. Currently, Alibaba has an average volume of 13.07M.
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