Vetr Upgrades Alibaba Group (NYSE:BABA) to “Strong-Buy”

Alibaba Group (NYSE:BABA) was upgraded by stock analysts at Vetr from a “buy” rating to a “strong-buy” rating in a research report issued on Monday, November 13th. The brokerage presently has a $206.84 target price on the specialty retailer’s stock. Vetr‘s price target points to a potential upside of 18.46% from the company’s previous close.

Several other research analysts have also recently weighed in on BABA. Needham & Company LLC boosted their price objective on shares of Alibaba Group from $155.00 to $190.00 and gave the company a “buy” rating in a report on Friday, August 18th. Royal Bank Of Canada boosted their price objective on shares of Alibaba Group from $160.00 to $185.00 and gave the company an “outperform” rating in a report on Friday, August 18th. Bank of America boosted their price objective on shares of Alibaba Group from $180.00 to $193.00 and gave the company a “buy” rating in a report on Friday, August 18th. KeyCorp set a $182.00 target price on shares of Alibaba Group and gave the company an “overweight” rating in a research report on Friday, August 18th. Finally, BidaskClub upgraded shares of Alibaba Group from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-one have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Alibaba Group has an average rating of “Buy” and an average price target of $184.52.

Alibaba Group (NYSE BABA) opened at $174.61 on Monday. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.21. The stock has a market cap of $453,529.16, a PE ratio of 51.48, a price-to-earnings-growth ratio of 1.34 and a beta of 2.54. Alibaba Group has a twelve month low of $86.01 and a twelve month high of $191.75.

Several institutional investors have recently made changes to their positions in the stock. Capital Research Global Investors increased its holdings in shares of Alibaba Group by 2.2% during the 2nd quarter. Capital Research Global Investors now owns 33,618,382 shares of the specialty retailer’s stock valued at $4,736,830,000 after purchasing an additional 738,281 shares in the last quarter. FMR LLC increased its holdings in shares of Alibaba Group by 42.5% during the 2nd quarter. FMR LLC now owns 25,278,081 shares of the specialty retailer’s stock valued at $3,561,681,000 after purchasing an additional 7,544,165 shares in the last quarter. Jennison Associates LLC increased its holdings in shares of Alibaba Group by 3.3% during the 2nd quarter. Jennison Associates LLC now owns 20,448,110 shares of the specialty retailer’s stock valued at $2,881,139,000 after purchasing an additional 661,109 shares in the last quarter. Capital World Investors increased its holdings in shares of Alibaba Group by 5.7% during the 2nd quarter. Capital World Investors now owns 20,243,958 shares of the specialty retailer’s stock valued at $2,852,374,000 after purchasing an additional 1,091,620 shares in the last quarter. Finally, UBS Asset Management Americas Inc. increased its holdings in shares of Alibaba Group by 5.4% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 12,234,002 shares of the specialty retailer’s stock valued at $1,723,771,000 after purchasing an additional 626,446 shares in the last quarter. 38.13% of the stock is owned by hedge funds and other institutional investors.

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About Alibaba Group

Alibaba Group Holding Limited is a holding company. Through its subsidiaries, the Company is engaged in online and mobile commerce through offering of products, services and technology that enable merchants, brands and other businesses to transform the way they market, sell and operate in the People’s Republic of China (China) and internationally.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Alibaba Group (NYSE:BABA)

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