Will Alibaba Group (BABA) Stock Be Affected Today by This Analyst Initiation?

NEW YORK (TheStreet) -- Oppenheimer initiated coverage of Alibaba Group Holding Ltd. (BABA) with an "outperform" rating on Tuesday.

The firm set a $133 price target for the China-based online and mobile commerce company.

Oppenheimer said the world's largest online/mobile commerce platform has now developed to be one of the most comprehensive ecosystems globally.

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"We think BABA is one of the best-positioned companies in the China Internet space by virtue of its strong brand, large and loyal customer base, and compelling network advantage," said Oppenheimer analysts Ella Ji and Fiona Zhang.

Shares of Alibaba Group are down 1.64% to $117.20 in pre-market trading.

BABA Chart BABA data by YCharts

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