NEW YORK (TheStreet) -- Alibaba is likely to go public sometime in late summer, according to David Faber, co-host of CNBC's "Cramer's Mad Dash" segment.
As for Alibaba's valuation, an analyst recently trimmed his estimates. Carlos Kirjner of Bernstein lowered his valuation target to $230 billion, from $250 billion.
Although it's lower, it would still represent what many would consider a successful public debut. Cramer said Kirjner is "very good" and he understands the "core of the business and why it should be valued the way it is."
Of course, the valuation of Alibaba has a direct effect on Yahoo! (YHOO), which owns a sizable stake in the Chinese e-commerce company.
Yahoo! is "undervalued if he's right," Cramer concluded of Kirjner's $230 billion valuation of Alibaba.
-- Written by Bret Kenwell in Petoskey, Mich.