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Will Alibaba's Stock Hit Triple Digits Once Again?

Alibaba NYSE:BABA - Will Alibaba's Stock Hit Triple Digits Once Again?

Shares of Alibaba Group Holding Ltd BABA 1.92% peaked at $120.00 last November and have been trading below the $100-mark for most of 2015. As investors anxiously await for its first-quarter results on Wednesday, the question remains when (or if) shares will once again trade in the triple-digits.

Two analysts agree on the potential upside in the stock ahead of the earnings print.

Cantor Fitzgerald: Macro Concerns Remain, $110 Price Target Reaffirmed

Youssef Squali of Cantor Fitzgerald commented in a note that Alibaba is expected to report "strong" first-quarter results due to "solid" growth in its TaoBao and Tmall segments. The analyst is expecting the company to report $109.34 billion in gross merchandise volume (GMV) in the quarter, marking a 35.4 percent increase from a year ago.