Goldman Sachs is at odds with its fellow Alibaba advisers after it awarded a “neutral” rating to the Chinese ecommerce group’s shares with a price target well below those of the other banks most closely involved in the initial public offering last month.
The six banks who led Alibaba’s flotation published research on Wednesday. Price targets for the shares over the next 12 months ranged between $102 from Goldman to $118 from Citigroup.
Alibaba’s shares leapt by a third on its first day of trading in New York last month. On Tuesday the stock closed at $99.68, just shy of its earlier record high of $100.67 and 47 per cent above its $68 issue price.
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