Alibaba Gets a Price Target Hike from Susquehanna
Author By Sophia VidaPosted on Alibaba, one of Chinese leading e-commerce sites, has received a price target hike from analyst Shyam Patil of Susquehanna.
Patil has raised his price target on the stock from $220 to $305 citing recent channel checks that indicate continued strong momentum for the company.
According to Patil, there are several levers that will drive advertising over time and that he expects Alibaba to remain measured with its approach. He has a positive rating on shares.
He wrote, “Our checks suggest that Alibaba continues to take share in the China e-commerce market and the significant new user additions in F2018 should provide a tailwind to growth through F2019.”
He also said, “Alibaba has numerous levers in the pipeline to drive continued strong advertising revenue growth, but we expect the company to remain measured in its approach, as it appears focused on sustainable growth and careful not to over-monetize.”
Disclaimer: We have no position in Alibaba Group Holding Ltd (NYSE: BABA) and have not been compensated for this article.
