Alibaba Group Holding Ltd (BABA): Alibaba price target raised to $240 from...

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Tuesday, 05/07/2019 9:24:56 AM

Tuesday, May 07, 2019 9:24:56 AM

Alibaba price target raised to $240 from $210 at KeyBanc
By: THE FLY | May 7, 2019

KeyBanc analyst Hans Chung raised his price target for Alibaba to $240 from $210, saying he still sees a meaningful upside to the stock despite a 37% rally year to date, as he believes the company will continue to be a dominant leader and pioneer in e-com 3.0. In the near to mid-term, the analyst expects feed monetization to start in the near future and contribute a meaningful growth. Freshippo's margin could be improved, driven by more stores ramped and matured, he adds. Chung reiterates an Overweight rating on the shares.

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