This Buffett Stock Has More Than 60% Upside Potential, According to Wall Street

While Charlie Munger is not as well known as his counterpart Warren Buffett, the two have worked together at Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) since 1979. Their distinct value investing style is iconic, and they know a bargain when they see one. While Munger's main allegiance is with Berkshire, he also manages Daily Journal Corporation's (NASDAQ: DJCO) investment portfolio.

The Daily Journal's latest 13F filing -- a report filed to the SEC when a managed portfolio has assets of more than $100 million -- showed a 99% increase in ownership of Alibaba (NYSE: BABA), which now makes up 28% of the Daily Journal's portfolio. Caught in the crossfire between the Chinese and U.S. governments, Alibaba has had multiple negative news headlines plague its stock over the last year. With an average Wall Street analyst price target of $201.94 and a current price in the low $120s, the stock has more than 60% upside. Does that mean you should join Charlie Munger and buy Alibaba shares?

Image source: Getty Images.

Continue reading

Source Fool.com