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Alibaba Stock Was The Best Performer Among Hong Kongs H Shares Listed In The United States On Thursday

Alibaba Group Holding Ltd's US-listed shares climbed 148 in Thursday trading to log their second-highest gain of the year as investors took heart from analysts' earnings optimism.

Alibaba stock was the best performer among Hong Kong's H-shares listed in the United States on Thursday.

The e-commerce giant's shares have been on a roller coaster ride in recent months, falling sharply after China's regulatory crackdown on the tech sector.

However, the stock has rebounded in recent weeks as investors bet that the worst of the regulatory storm has passed.

Alibaba's fiscal third-quarter report is due out before Wednesday's opening bell.

Analysts are expecting the company to report weak growth and competitive pressures.

However, some analysts see encouraging signs in the company's recent performance.

Alibaba has been buying back stock at a furious pace ahead of earnings.

This suggests that management is confident in the company's long-term prospects.

Shares are priced at 8247 and their 16879 average price target suggests room for 105.

In response to the earnings announcement, several analysts raised their price targets on Alibaba stock.


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