Alibaba Group Holding Ltd (BABA)

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Alibaba price target boosted above $300 at Susquehanna
By Emily Bary

Published: June 7, 2018 8:47 a.m. ET
Susquehanna Financial Group analyst Shyam Patil raised his price target on Alibaba Group Holdings Ltd. BABA, -0.86% stock to $305 from $220 on Thursday, making him the most bullish analyst among those tracked by FactSet. "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," Patil wrote. "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." Patil, who has a positive rating on the stock, predicts that Alibaba will pick up share during the June 18 shopping festival, as the company appears to be going after electronics sales in addition to apparel sales. The stock is down 0.7% in premarket trading but up 66% this year, while the S&P 500 SPX, +0.86% has gained 14%.