Why Alibaba Stock Pumped Higher Today
Alibaba Group (NYSE: BABA) had a fruitful and bullish Tuesday on the stock exchange, with its U.S.-listed American depositary receipts (ADRs) rising on the back of a meaningful analyst price-target hike. With that, Albaba stock closed that trading session 4% higher, handily beating the 0.3% increase of the S 500 index.
Well before market open that day, 's (NYSE: BCS) Jiong Shao lifted his Alibaba fair value assessment to $190 per ADR. That was significantly higher than his preceding price target of $145. Shao maintained his overweight (read: buy) recommendation on the Chinese tech giant.
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Source Fool.com
Alibaba Group Holding Ltd ADR Stock
€111.20
0.910%
The stock is an absolute favorite of our community with 47 Buy predictions and no Sell predictions.
With a target price of 164 € there is a positive potential of 47.48% for Alibaba Group Holding Ltd ADR compared to the current price of 111.2 €.
