7/102 sources · 2 publishersUpdated Oct 12, 11:49 UTC
Bank of America raises Alibaba price targets and reiterates Buy ahead of September‑quarter earnings
Bank of America Global Research lifted its price objective for Alibaba’s U.S. shares to $178 and for Hong Kong shares to HK$175, while keeping a Buy rating. The firm projects September‑quarter revenue to grow 10% year‑over‑year and adjusted EBITA to reach 30 billion yuan, driven by faster cloud growth and tighter cost control. Alibaba’s Hong Kong‑listed stock rose about 3% after the note was released.
Why it matters
The higher price targets and upbeat earnings outlook may prompt investors to re‑price the stock ahead of the upcoming earnings release, potentially supporting further price gains.
Key facts
- 1BofA raised its price target for Alibaba’s U.S.‑listed shares to $178. investing.com
- 2BofA raised its price target for Alibaba’s Hong Kong‑listed shares to HK$175. investing.com
- 3BofA expects September‑quarter revenue to grow 10% from a year earlier. investing.com
- 4BofA forecasts adjusted EBITA of 30 billion yuan for the September quarter. investing.com
- 5Alibaba’s Hong Kong shares rose as much as 3% on the day of the note. investing.com
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.