Alibaba Recommended as 'Buy' by Cantor Before a Single Trade

In Friday's Analysts' Actions, Cantor rates Alibaba a BUY, Oracle gets downgraded and Rite Aid gets a price target cut. Cantor Fitzgerald initiated coverage of Alibaba (BABA) before a single share even traded with its top 'BUY' rating and a price target set at $90 a share. The stock IPO'd on the top end of the range at $68 so that's about a 32% increase. The firm believes the Chinese e-commerce giant is the best way to play the growing online consumer market in China. Oracle (ORCL) was downgraded at Deutsche Bank to HOLD from BUY. The price target was also lowered to $42 from $48. The analysts there say Larry Ellison stepping down is a concern as the company faces transitions in the industry. JPMorgan cut its price target for Rite Aid (RAD) to $6.50 from $8. The firm is maintaining its OVERWEIGHT rating for the stock but says Rite Aid's disappointing full year outlook is the reason for the lowered estimate. The firm is reiterating its OVERWEIGHT rating. The lower price target is due to Rite Aid's disappointing guidance full year.