Barclays Believes Alibaba Group (NYSE: BABA) Still Has Room to Grow

By Ryan Adsit

Barclays analyst Gregory Zhao reiterated a Buy rating on Alibaba Group (NYSE: BABA) today and set a price target of $141. The company’s shares opened today at $123.96, close to its 52-week high of $126.40.

According to TipRanks.com, Zhao is a 2-star analyst with an average return of 1.2% and a 57.1% success rate. Zhao covers the Technology sector, focusing on stocks such as Changyoucom, NetEase Inc, and Sina Corp.

Currently, the analyst consensus on Alibaba Group is Strong Buy and the average price target is $133.30, representing a 7.5% upside.

In a report issued on May 9, Needham also reiterated a Buy rating on the stock with a $135 price target.

The company has a one year high of $126.40 and a one year low of $73.30. Currently, Alibaba Group has an average volume of 9.91M.

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