(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%.

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Source Fool.com