1 Wall Street Firm Thinks Alibaba Stock Is Going to $99. Is It a Buy?
(NYSE: BABA) stock has started to show signs of recovering after falling to new lows last year. In the past month, share prices have jumped 19% and could be headed for more gains.
Bank of America analysts recently maintained a buy rating on the stock but lowered the price target from $102 to $99. However, that still implies an upside of 17% over the next 12 months over the current share price.
BofA analysts expect Alibaba's total revenue to be up 6% year over year in the March-ending fiscal 2024 fourth quarter, a slight acceleration from the 5% growth in Q3. Keep in mind, BofA's estimates are higher than the Wall Street consensus that projects the company will report a year-over-year boost of 4.3%.
Source Fool.com
Alibaba Group Holding Ltd ADR Stock
€68.60
-3.380%
The stock is one of the favorites of our community with 41 Buy predictions and 2 Sell predictions.
With a target price of 109 € there is a hugely positive potential of 58.89% for Alibaba Group Holding Ltd ADR compared to the current price of 68.6 €.
