Alibaba Group Holding (BABA) was reiterated an ‘Overweight’ with $118.10 price target by Morgan Stanley (MS) analysts on Friday.
In a report [via Benzinga] to investors this morning, the investment bank noted, “This year’s record breaking 11-11 result once again shows Alibaba’s ability to scale up. Reverse roadshow meetings gave us greater appreciation of the ongoing push for new initiatives to break new ground and potential further benefits from leveraging data insights.”
In other Alibaba news, Reuters reports that the Chinese e-commerce giant will kick off a roadshow in Boston and Hong Kong on Monday as it mulls its first bond ever, just two months after the company’s record-breaking initial public offering.
Shares of Alibaba have a $285.87B market cap, based on ticker’s current price-per-share of $115.15. Since its IPO, the name has traded between a low of $82.81 and a high of $120.00.