Alibaba Group Holding Ltd (BABA): The Amazon of Asia?

Alibaba Group Holding Ltd (NYSE:BABA) has announced fourth quarter results, according to which the company earned $0.63 per share, compared to the average analyst estimate of $0.65. Revenue in the quarter increased by a whopping 60% to $5.61 billion, versus the consensus estimate of $5.23 billion. On Tuesday, MKM Partners increased its price target on Alibaba Group Holding Ltd (NYSE:BABA) to $155, and said that the stock will go up after the announcement of fourth quarter results.

Alibaba Group Holding Ltd (NYSE:BABA) shares have gained about 28% over the last six months. Analysts think that Alibaba Group Holding Ltd (NYSE:BABA) will become the Amazon.com of Asia, as shopping trends in the region change. In China, only 50% of the total population has access to the internet. The government is expected to expand internet services massively in the future. This will increase Alibaba Group Holding Ltd (NYSE:BABA)’s already huge customer base.

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