Courtesy of Benzinga.
In a report published Wednesday, Pacific Crest Securities analyst Cheng Cheng initiated coverage on Alibaba Group Holding Ltd (NYSE: BABA) with an Outperform rating and $125.00 price target.
In the report, Pacific Crest Securities noted, “Alibaba is the world’s largest e-commerce company measured by GMV. It controls more than 80% of China’s e-commerce market; however, Internet and e-commerce adoption is still below average in China. Secular growth in e-commerce, combined with increased adoption of Alibaba’s solutions by buyers and sellers and the benefit of Alibaba’s ecosystem of partners, should help the company sustain at least 30% average annual growth in revenue and earnings. Based on Alibaba’s strong market position and growth outlook, we believe a target P/E of 35x (less than 1.2x PEG) our calendar 2016 EPS of $3.52 is fair. This drives our 12-month price target of $125.”
Alibaba Group Holding Ltd closed on Tuesday at $99.68.
Latest Ratings for BABA
| Date | Firm | Action | From | To |
|---|---|---|---|---|
| Oct 2014 | Wells Fargo | Initiates Coverage on | Outperform | |
| Oct 2014 | Topeka Capital | Initiates Coverage on | ||
| Oct 2014 | Evercore Partners | Initiates Coverage on | Buy |
View More Analyst Ratings for BABA
View the Latest Analyst Ratings
Posted-In: Cheng Cheng Pacific Crest SecuritiesAnalyst Color Initiation Analyst Ratings
