UPDATE: Brean Capital Initiates Coverage On Alibaba, Sees High Growth

Brean Capital commented Friday that Alibaba Group Holding Ltd. BABA is a "unique opportunity with high growth" ahead, according to Bloomberg.

Analyst Fawne Jiang gave the company a Buy rating with a $100 price target.

The report indicated that Alibaba provides investors with the opportunity to participate in the "robust growth" of China’s e-commerce sector.

Jiang forecasted that the company will continue to "invest in assets to grow across all types of consumer business, such as auto and real estate services."

The valuation’s focus was on Alibaba’s core business while new opportunities connected to AliCloud and big data may add even more value to the company.

Bank of America recently ranked Alibaba No.1 in global e-commerce.

Alibaba Group Holding Ltd. recently traded at $89.78, up 1.06 percent.