Why Alibaba Stock Pumped Higher Today

Alibaba Group (NYSE: BABA) had a fruitful and bullish Tuesday on the stock exchange, with its U.S.-listed American depositary receipts (ADRs) rising on the back of a meaningful analyst price-target hike. With that, Albaba stock closed that trading session 4% higher, handily beating the 0.3% increase of the S&P 500 index.Well before market open that day, Barclays's (NYSE: BCS) Jiong Shao lifted his Alibaba fair value assessment to $190 per ADR. That was significantly higher than his preceding price target of $145. Shao maintained his overweight (read: buy) recommendation on the Chinese tech giant. Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool