New Buy Rating for Alibaba (BABA), the Technology Giant

By Jason Carr

Stifel Nicolaus analyst Scott Devitt maintained a Buy rating on Alibaba (NYSE: BABA) today and set a price target of $200. The company’s shares closed yesterday at $141.90, close to its 52-week low of $135.14.

According to TipRanks.com, Devitt is a top 100 analyst with an average return of 20.6% and a 65.4% success rate. Devitt covers the Technology sector, focusing on stocks such as Paypal Holdings, Alphabet Inc, and Mercadolibre.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Alibaba with a $223 average price target, a 57.2% upside from current levels. In a report issued on September 27, Merrill Lynch also maintained a Buy rating on the stock with a $221 price target.

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Alibaba’s market cap is currently $365B and has a P/E ratio of 41.12. The company has a Price to Book ratio of 6.15.

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