Alibaba Received its Third Buy in a Row

By Jason Carr

After MKM Partners and Raymond James gave Alibaba (NYSE: BABA) a Buy rating last month, the company received another Buy, this time from Wells Fargo. Analyst Ken Sena maintained a Buy rating on Alibaba today. The company’s shares closed yesterday at $206.62, close to its 52-week high of $211.70.

According to TipRanks.com, Sena is a 5-star analyst with an average return of 13.4% and a 68.8% success rate. Sena covers the Services sector, focusing on stocks such as Booking Holdings Inc, Ctripcom, and Netflix.

Currently, the analyst consensus on Alibaba is Strong Buy and the average price target is $250, representing a 21.0% upside.

In a report issued on June 7, Susquehanna also reiterated a Buy rating on the stock with a $305 price target.

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Alibaba’s market cap is currently $530.9B and has a P/E ratio of 54.88. The company has a Price to Book ratio of 9.87.

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