Alibaba (BABA) Receives a Buy from Oppenheimer

By Jason Carr

In a report released today, Jason Helfstein from Oppenheimer maintained a Buy rating on Alibaba (BABAResearch Report). The company’s shares closed on Friday at $144.85.

According to TipRanks.com, Helfstein is a 5-star analyst with an average return of 14.8% and a 58.4% success rate. Helfstein covers the Technology sector, focusing on stocks such as Endurance International, ANGI Homeservices Inc, and IAC/InterActiveCorp.

Alibaba has an analyst consensus of Strong Buy, with a price target consensus of $208.38, which is a 43.9% upside from current levels. In a report issued on October 29, Nomura also maintained a Buy rating on the stock with a $202 price target.

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Based on Alibaba’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $2.94 billion. In comparison, last year the company had a net profit of $2.65 billion.

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