Alibaba earns status as one of the hottest tickets on Wall Street, Stock goes Up 27%

Alibaba Group Holding Ltd (NYSE:BABA), Alibaba stock earns status as one of the hottest tickets on Wall Street. Year to date, China based e-commerce giant’s stock has gained 60%. The most interesting part is, the stock has risen more than 80% in the past 12 months.

The new price target now represents a potential 27% upside, a considerable hike from its last closing price.

After the analyst meeting at Hangzhou headquarters, the firm is bullish on the company. Strong business trends are on sight that may result in stronger future for fiscal 2018.

It is reported that the shares of Alibaba Group Holding Limited (NYSE: BABA) were up $0.86, or 0.6% to $140.30

Via: The Street