Following Tuesday's initial earnings announcement from Alibaba Group Holding Ltd (NYSE: BABA), several firms came out with their view on the stock.

Morgan Stanley: Overweight, Price Target raised from $111.10 to $118.10

"Mobile monetization rate beat, reaccelerating C2C growth, and robust active user growth supported better earnings delivery. Reiterate OW."

Related Link: A Deeper Dive Into Alibaba's Earnings

Cantor Fitzgerald: Buy, Price Target raised from $90 to $110

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"Solid Quarter Out of the IPO Gate But Expect Higher Investments. A differentiated pricing model, strong brand and unmatched scale continue to give Alibaba an unfair competitive advantage relative to peers both in and outside China. We believe the company's outsized growth and margin profiles should support higher prices over time."

Jefferies: Buy, $118 Price Target

"Monetization gap between mobile and PC continues to narrow, driven by strong mobile traffic growth and increasing mobile ad spending. We believe Alibaba's large active user base with rising consumption power will drive long-term revenue growth."

Brean Capital: Buy, Price Target raised from $110 to $115

"We view Alibaba as a core holding in the China Internet space. While BABA did not provide FY3Q15 guidance, we expect a positive outlook on the back of the upcoming Singles' Day event. In the near term, we expect ecommerce should remain the core driver for BABA; BABA should continue enjoying robust revenue growth."

Shares of Alibaba were recently up 3.1 percent at $109.43, less than 8 percent below the highest price target.

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