5 Stocks Hedge Funds and Wall Street Analysts Are Crazy About

4. Alibaba Group Holding Limited (NYSE:BABA)

Upside Potential: 67.63%
Number of Hedge Fund Holders: 112

Alibaba Group Holding Limited (NYSE:BABA) has always been the go-to company for investors eyeing exposure in China’s robust internet sector. The company offers essential tech infrastructure and marketing solutions for businesses to connect and operate. It’s among China’s top internet firms, operating in seven key segments: China Commerce, International Commerce, Local Consumer Services, Cloud, Digital Media, Innovation Initiatives, and more.

With China’s economy recovering from the COVID-19 slowdown, Alibaba Group Holding Limited (NYSE:BABA) is one company well poised to benefit from increased consumer spending. The growth of China’s e-commerce market is much more substantial than any headwind that might hit the entire retail sector, affirms Wave Alibaba is a stock hedge fund and Wall Street analysts are crazy about.

The average price target for Alibaba Group Holding Limited (NYSE:BABA) is $140.84. This is based on 19 Wall Street analysts’ 12-month price targets issued in the past 3 months. The highest analyst price target is $187; the lowest forecast is $100. The average price target represents a 67.63% Increase from the current price of $84.02.

Insider Monkey took a look at hedge fund portfolios for Alibaba Group Holding Limited (NYSE:BABA) Q2 and found out that 112 had a stake in the company. Appaloosa Management LP was the firm’s largest shareholder which had roughly 4.48 million shares for about $372.99 million of Alibaba Group Holding Limited (NYSE:BABA).

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