Fintel reports that on August 11, 2023, DZ Bank upgraded their outlook for Alibaba Group Holding Ltd – ADR (NYSE:BABA) from Hold to Buy.

Analyst Price Forecast Suggests 46.11% Upside

As of August 2, 2023, the average one-year price target for Alibaba Group Holding Ltd – ADR is 139.86. The forecasts range from a low of 92.92 to a high of $192.15. The average price target represents an increase of 46.11% from its latest reported closing price of 95.72.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Alibaba Group Holding Ltd – ADR is 991,825MM, an increase of 10.54%. The projected annual non-GAAP EPS is 62.78.

What is the Fund Sentiment?

There are 1643 funds or institutions reporting positions in Alibaba Group Holding Ltd – ADR. This is an increase of 3 owner(s) or 0.18% in the last quarter. Average portfolio weight of all funds dedicated to BABA is 1.11%, an increase of 2.10%. Total shares owned by institutions increased in the last three months by 3.03% to 463,989K shares. The put/call ratio of BABA is 0.48, indicating a bullish outlook.

What are Other Shareholders Doing?

Bnp Paribas Arbitrage holds 18,346K shares representing 0.72% ownership of the company. In it’s prior filing, the firm reported owning 943K shares, representing an increase of 94.86%. The firm increased its portfolio allocation in BABA by 130.26% over the last quarter.

Primecap Management holds 17,283K shares representing 0.68% ownership of the company. In it’s prior filing, the firm reported owning 17,279K shares, representing an increase of 0.03%. The firm increased its portfolio allocation in BABA by 10.51% over the last quarter.

Dodge & Cox holds 12,634K shares representing 0.50% ownership of the company. In it’s prior filing, the firm reported owning 13,979K shares, representing a decrease of 10.65%. The firm increased its portfolio allocation in BABA by 4.17% over the last quarter.

Price T Rowe Associates holds 11,034K shares representing 0.43% ownership of the company. In it’s prior filing, the firm reported owning 7,910K shares, representing an increase of 28.31%. The firm increased its portfolio allocation in BABA by 50.58% over the last quarter.

FIL holds 9,977K shares representing 0.39% ownership of the company. In it’s prior filing, the firm reported owning 10,671K shares, representing a decrease of 6.96%. The firm decreased its portfolio allocation in BABA by 58.99% over the last quarter.

Alibaba Group Holding Background Information
(This description is provided by the company.)

Alibaba Group’s mission is to make it easy to do business anywhere. The company aims to build the future infrastructure of commerce. It envisions that its customers will meet, work and live at Alibaba, and that it will be a good company that lasts for 102 years.

This article originally appeared on Fintel

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