Why Alibaba Stock Was a Winner Today
Chinese e-commerce titan (NYSE: BABA) plans to push assertively into a large and juicy market, a prospect that pleased investors on Thursday. The news sent the company's stock price more than 3% higher, which trumped the 1.2% rise of the S 500 index on the day.
Alibaba's president J. Michael Evans revealed this during a technology conference held in Paris.
He said, "What we will focus more for the future is to build local businesses, so you will see something called TMall which we have in China become TMall in Europe, which means we will serve local brands and local customers in local markets."
Source Fool.com
Alibaba Group Holding Ltd ADR Stock
€106.20
5.150%
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As a result the target price of 164 € shows a very positive potential of 54.43% compared to the current price of 106.2 € for Alibaba Group Holding Ltd ADR.
