It's time to snap up Alibaba shares as they could more than double in a "blue sky scenario" following the company split, according to JPMorgan. Analyst Alex Yao said Wednesday that Alibaba shares have even further upside over the medium- and long-term, even after the e-commerce giant's reorganization announcement spurred the stock to close higher on Tuesday by more than 14%.
mountain Alibaba US-listed shares 1-day "From an investor sentiment impact perspective, we liken Alibaba's reorganization to Google's transformation to Alphabet, a clear sentiment booster that should drive near-term stock price," Yao wrote. "Nonetheless, we believe Alibaba's reorganization could bring about more significant implication to business fundamentals and share price over the mid-to-longer term.
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Stocks making the biggest moves before the bell: Alibaba, Lyft, Walgreens and moreAlibaba shares jumped after the e-commerce giant said it would split its company into six separate business groups.
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