Buy, hold and sell recommendations from company analysts can be a useful signal about the sentiment around a stock. Examining the ‘consensus’ rating among brokers can give you a sense of whether the share is worth buying or not. Take Alibaba Holding (NYQ:(BA)(BA)) as an example…
Shares in the company have risen by 17.7% over the past month and it’s currently trading at 265.92. But what do the analysts that cover it think?
Based on the broker ‘consensus’, there could be reasons to believe that the positive recent trend will continue. In terms of trading recommendations, Alibaba Holding currently has:
- 19 Buy recommendations
- 0 Hold recommendations
- 0 Sell recommendations
This suggests that analysts are generally upbeat about the outlook.
At its current price of 265.92, shares in Alibaba Holding are trading at a discount of -18.1% to its 52 week high price. The 1-year performance of the shares has been 22.3%.
While analyst forecasts can be a useful guide to what City ‘experts’ think about a stock’s near term future, they can be unreliable. To get a better idea about the strengths and weaknesses of Alibaba Holding it’s worth doing some investigation yourself. Indeed, we’ve identified some areas of concern with Alibaba Holding that you can find out about here.
Alternatively, if you’d like to find more shares that analysts are bullish about, you can find them on this Positive Momentum & Broker Buys screen.