#1 - Alibaba (NYSE:BABA)
Alibaba Group Holding Ltd. (NYSE: BABA) stock is up 41% in the last month. That’s pushed the stock up more than 47% in 2024. The BABA stock price is still below the performance of a stock like NVIDIA Corp. (NASDAQ: NVDA), but it illustrates the excitement brewing in Chinese stocks.
Alibaba stock posted strong gains in 2020 and 2021. But since hitting an all-time high in 2021, the stock was trading near all-time lows before this latest surge.
That said, there is concern that the run-up in BABA stock is exhausted, and a pullback could be in order. The Alibaba analyst forecasts on MarketBeat have a consensus price that forecasts a 2% downside. However, on October 7, Macquarie upgraded the stock from Neutral to Buy with a $145 price target that would be a gain of more than 26% from the current price.
About Alibaba Group
Alibaba Group Holding Limited, through its subsidiaries, provides technology infrastructure and marketing reach to help merchants, brands, retailers, and other businesses to engage with their users and customers in the People's Republic of China and internationally. The company operates through seven segments: China Commerce, International Commerce, Local Consumer Services, Cainiao, Cloud, Digital Media and Entertainment, and Innovation Initiatives and Others.
Read More - Current Price
- $90.54
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 13 Buy Ratings, 2 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $114.53 (26.5% Upside)
