Alibaba (BABA) Stock: $200 Price Target From Citi

By Amit Chowdhry ● Mar 27, 2022
  • The shares of Alibaba Group Holding Ltd (NYSE: BABA) have received a $200 price target from Citi. These are the details.

The shares of Alibaba Group Holding Ltd (NYSE: BABA) have received a $200 price target from Citi. Citi analyst Alicia Yap adjusted the rating following Alibaba’s stock buyback announcement.

Alibaba had increased its share repurchase program to $25 billion. And this is the company’s largest-ever stock buyback program. Yap is expecting Alibaba to buy back $15.8 billion of its shares through March 2024

“We view positively the decision to up-size the repurchase program, which likely suggests that management sees the current share price as undervalued and attractive. This would be is in-line with our recent comment that following recent weeks of volatility, BABA shares are trading at a P/E that is 2 standard deviations below the historical average, despite Ali over the past few years evolving into multiple business segments that are not well-reflected in its consolidated earnings given some are loss-making,” wrote Yap in a research note.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.