Wall Street loves Alibaba right now. Since the turn of the year, more and more Wall Street banks have turned bullish on the Chinese tech sector, with Alibaba emerging as a favorite stock. It is rated “buy” by almost all analysts — 93% — covering it, according to FactSet. They give it average potential upside of 43%. The Chinese tech giant, which spans e-commerce, technology and internet segments, is due to report its earnings for the December quarter on Thursday. An analysis of Wall Street research reveals longer-term bullishness on the stock, though analysts warn of potential short-term pressure. Morgan Stanley Morgan Stanley estimates Alibaba’s revenue to come in 1% below consensus.However, it expects the company to achieve a 5.2% year-on-year increase in adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of 47.1 billion Chinese yuan ($6.87 billion), in line with estimates.
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So good