Shares of Alibaba Group Holding Ltd BABA have experienced plenty of volatility in 2016, but are ultimately down 3.85 percent year-to-date. Having said this, shares have been on the rise lately, recuperating more than 28 percent of their value since their mid February lows.
Related Link: Here's How Crowdsourced Ratings Can Beat The Market
Despite the strong rebound, the Vetr community seems to believe the surge will continue. Consequently, top raters at the Vetr community decided to upgrade their rating on shares of Alibaba on Thursday, from 3.5 Stars (Buy) to 4.5 Stars (Strong Buy) - out of a possible 5.0 Stars rating.
The new rating seems more aligned with the crowd’s target price of $87.14, which implies an upside potential of almost 11.5 percent from current valuations.
Finally, it should be noted that 76 percent of the crowd’s rating are bullish.
Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
|---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
