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UPDATE: Bank Of America Initiates Coverage On Alibaba

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In a report issued Tuesday, Bank of America analyst Eddie Leung initiated coverage on Alibaba Group Holding Ltd (NASDAQ: 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.

Latest Ratings for BABA

DateFirmActionFromTo
Jan 2021KeyBancMaintainsOverweight
Nov 2020UBSMaintainsBuy
Nov 2020Raymond JamesMaintainsStrong Buy

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Posted-In: Bank of America Eddie LeungAnalyst Color News Price Target Initiation Analyst Ratings

Latest Ratings

StockFirmActionPT
WWEEvercore ISI GroupUpgrades
INTB of A SecuritiesUpgrades40.0
BLDPBMO CapitalInitiates Coverage On39.0
SSYSStifelInitiates Coverage On40.0
CMGGoldman SachsInitiates Coverage On1,650.0
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