Brokers' target prices for Alibaba prior to upcoming quarterly results announcement on May 14th, 2024.

Alibaba (9988.HK) is due to report its quarterly earnings (quarter ending March 2024 and fiscal year 2024) on Tuesday, May 14th. In the past week, in anticipation of a good set of earnings results, investors have driven up Alibaba's stock price to above 80 HK$, ending the day with the closing price of 81.15 HK$.

The following table is the summary of brokers' target prices and ratings for Alibaba (prior to the results announcement):

Source: AAStocks

The average target price from the 13 brokers is 104.55 HK$, indicating an upside of 28.8% from the closing price on May 13th. It will be interesting to see how this figure changes after the quarterly results announcement.