Will Alibaba Group (BABA) Stock Be Helped Today by This Analyst Action?

NEW YORK (TheStreet) -- Shares of Alibaba Group Holding Ltd. (BABA) are up 0.74% to $115.39 in pre-market trading Wednesday after the company's price target was increased to $125 from $115 at BMO Capital Markets.

The firm reiterated its "outperform" rating and said it raised the price target of the Chinese-based online and mobile commerce company because the company is reflecting stronger trends and has strategic investments and excess cash.

"We believe Alibaba can grow revenue and profits substantially over the next several years as the company further penetrates the largest and fastest-growing major e-commerce market in the world, boosted by numerous strong secular growth trends," said BMO analyst Edward S. Williams.

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