On Wednesday, analysts at Morgan Stanley initiated coverage on Alibaba Group Holding (NYSE: BABA) with an Overweight rating and $111 price target.
Angela Moh is bullish on Alibaba for multiple reasons:
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- e-commerce Growth opportunities remain significant in China.
- Alibaba’s asset-light model provides scalability and strong cash flow to help it expand its competitive advantage.
- Opportunities in international e-commerce and the cloud suggest potential upside in the medium term.
- Premium valuation is justified by the company’s dominant position in a market with a long runway for growth.
Shares of Alibaba recently traded at $100.35 up 0.68 percent Wednesday morning.