Wednesday, November 19, 2014

Analysts are Bullish on Alibaba Shares - Updated

Shares of Alibaba, BABA, have stalled recently in its rally.  Shares touched $120 briefly, and have had a slight correction since.  However, this is not to fear because for one, shares are strongly ahead of its IPO price.

Furthermore, recent analyst actions show that there are many bulls out there.  Cantor Fitzgerald, HSBC, and Bank of America all have issued either buy or overweight ratings on BABA during the month of November.

It will be interesting to see how the year ends for the share price of Alibaba, but I would expect its share price to reflect positively if we see strong holiday sales.

Disclosure, I am long BABA.

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