Shares of Alibaba Group Holding (BABA) reached $150 for the first time Thursday.
This is proving to be Alibaba’s breakout year.
Alipay, the online payment platform for #Alibaba, will bid to acquire Snapdeal’s Freecharge. Snapdeal is based in India. Alipay will be bidding alongside Indian banks Axis Bank and Bank of Baroda, and India’s Paytm, an electronic payment company.
Among analysts covering the company, the mean price target is $166. However, analyst ratings are all over the map. Of two with $130 price targets, Guotai Junan Securities has a Buy rating on the stock, while Atlantic Equities has a Hold rating. Deutsche Bank Analyst Alan Hellawell has the highest target on the Street at $201. Meanwhile four analysts, including those at Raymond James and China Merchants Securities, have $190 price targets.