Alibaba Receives a Buy from Wells Fargo

By Ryan Adsit

In a report released today, Ken Sena from Wells Fargo maintained a Buy rating on Alibaba (NYSE: BABA). The company’s shares opened today at $188.60.

According to TipRanks.com, Sena is a 5-star analyst with an average return of 13.1% and a 66.0% 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 a Strong Buy with an average price target of $249.69, a 32.4% upside from current levels. In a report issued on July 5, MKM Partners also maintained a Buy rating on the stock with a $280 price target.

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The company has a one-year high of $211.70 and a one-year low of $146.85. Currently, Alibaba has an average volume of 17.34M.

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