Deutsche Bank Remains Bullish On Alibaba

Analysts at Deutsche Bank commented on shares of Alibaba Group Holding BABA following the company’s financial results. Alan Hellawell III maintained the Buy rating with a $112 price target.

Hellawell III highlighted positives moving forward:

Alibaba is getting ready for its seminal sales event of the year called "Singles Day", which kicks of the company’s peak season. Hellawell III expects this event "to build significantly on the already massive scale achieved last year."

Related Link: A Quick Primer On Singles Day - The Cultural Phenomenon Sweeping Across China

Mobile dynamics are encouraging. Hellawell III believes "the September results amply illustrated gains in Ali's mobile business, from a penetration-of-GMV perspective, to the take-rate growth we have seen."

Shares of Alibaba recently traded at $108.97, up 0.26 percent Thursday morning.