Alibaba Gets a Strong Start Before IPO, Dollar Store Battlers Rated
In Friday's Analysts' Actions, Wedbush starts Alibaba at 'Outperform', Netflix gets an upgrade and UBS enters the battle of the dollar stores with fresh initiations. The analysts at Wedbush are starting their coverage of Alibaba (BABA) with an 'Outperform' rating before the stock hits the market and set an $80 price target. Among many factors, they believe, Chinese e-commerce sales will continue to grow for the next several years. The firm also thinks Alibaba's gross merchandise volumes may exceed both Amazon's (AMZN) and eBay's (EBAY) combined. Shares of Alibaba are set to price next week on September 18 and will begin trading September 19. Netflix (NFLX) was upgraded at Barclays to 'Equal Weight' from 'Underweight' with a price target increase to $480 from $420. The firm likes the overseas expansion they're seeing but says 'ultimately, quality content will be the differentiator.' UBS is weighing in on the battle of the dollar stores with fresh initiations. The firm rates Family Dollar (FDO) as 'Neutral' with an $80 price target. UBS is rating both Dollar General (DG) and Dollar Tree (DLTR) as 'Buy' with price targets of $81 and $68, respectively.
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