Analysts Just Revised Their Ratings for These 5 Stocks

2. Alibaba Group Holding Limited (NYSE:BABA)

Number of Hedge Fund Holders: 100

Alibaba Group Holding Limited (NYSE:BABA) received an upgrade from Bernstein on Wednesday, July 20, 2022. The research firm upgraded the Chinese e-commerce giant from “Market Perform” to “Outperform.”

Bernstein analyst Robin Zhu thinks that Alibaba’s incremental gross merchandise value (GMV) share would likely expand in the coming quarters amid easier year-over-year comparisons and softer macro issues. Zhu also lifted his price target for Alibaba Group Holding Limited (NYSE:BABA) from $115 per share to $130 per share.

Separately, Memphis-based Longleaf Partners Fund mentioned Alibaba Group Holding Limited (NYSE:BABA) in its first-quarter 2022 investor letter, stating:

“We took advantage of price volatility to add to three of our most heavily discounted European businesses, including new purchases in 4Q 2021 and we reinitiated a position in Alibaba (NYSE:BABA), as the shares became even more heavily discounted amid broad China volatility in the period.”