5 Best Foreign Stocks To Buy Now

2. Alibaba Group Holding Limited (NYSE:BABA)

Number of Hedge Fund Investors In Q2 2023: 112

Alibaba Group Holding Limited (NYSE:BABA) is a Chinese business conglomerate known primarily for its namesake online retail platform. Despite a slow Chinese economy, analysts seem to be quite optimistic about its prospects since they have rated the shares Strong Buy on average and priced in a $56.69 share price upside based on the average share price target of $139.24.

As of this year’s June quarter, 112 among the 910 hedge funds tracked by Insider Monkey were the firm’s investors. Out of these, Alibaba Group Holding Limited (NYSE:BABA)’s largest stakeholder is David Tepper’s Appaloosa Management LP courtesy of its $372 million stake.

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