Alibaba Stock Price Prediction: Why Alibaba Deserves A Price Target of $240

motek 1The article was written by Motek Moyen Research Seeking Alpha’s #1 Writer on Long Ideas and #2 in Technology – Senior Analyst at I Know First.

Summary:

  • Alibaba’s stock price is now 26.7% higher than when I made my September buy recommendation. I still see BABA rising to beyond $240 within the next 90 days.
  • Alibaba will report its Q3 2020 numbers today. I expect it again to beat EPS and revenue estimates.
  • If Alibaba reports beats on revenue and EPS estimates, the stock will likely rally to above $230 this month.
  • Amazon’s retreat from China will only accelerate Alibaba’s growth.
  • Coronavirus has no long-term effect on Alibaba Even if there’s a delay in production and delivery, Alibaba’s e-commerce goods will still get paid upfront.

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