UPDATE: Bank Of America Initiates Coverage On Alibaba

Loading...
Loading...

In a report issued Tuesday, Bank of America analyst Eddie Leung initiated coverage on Alibaba Group Holding Ltd BABA with a Buy rating and a $112 price target.

Leung expects Alibaba to remain the largest eCommerce name in China with a 68 percent market share (by general merchandise value) in FY17E, which provides it solid exposure to industry growth. He also feels economies of scale will support margins in the 37 to 39 percent range, along with continued monetization of ad revenues.

Alibaba shares were trading at $84.20, up 1.7 percent.

date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorNewsPrice TargetInitiationAnalyst RatingsBank of AmericaEddie Leung
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...