Alibaba Group Received its Third Buy in a Row

After Nomura Holdings and Needham assigned a Buy rating to Alibaba Group in the last month, the company received another Buy, this time from Brean Capital. Analyst Fawne Jiang reiterated a Buy rating on Alibaba Group (NYSE: BABA) today. The company’s shares opened today at $103.85, close to its 52-week high of $109.87.

According to TipRanks.com, Jiang is a 5-star analyst with an average return of 5.2% and a 46.2% success rate. Jiang covers the Technology sector, focusing on stocks such as Bitauto Holdings Limited, China Mobile Games, and Soufun Holdings.

Currently, the analyst consensus on Alibaba Group is Strong Buy and the average price target is $117.93, representing a 13.6% upside.

In a report issued on October 20, Needham also reiterated a Buy rating on the stock with a $125 price target.

Alibaba Group’s market cap is currently $252.4B and has a P/E ratio of 33.03. The company has a book value ratio of 7.4354.