Alibaba Group Holding Ltd. (NYSE: BABA) is scheduled to release its most recent quarterly results before the markets open on Wednesday. The consensus estimates call for $0.97 in earnings per share (EPS) and $13.32 billion in revenue. The fiscal fourth quarter of last year reportedly had $0.83 in EPS and $8.92 billion in revenue.

Recent developments in trade relations with China have thrown markets over the past week and left many investors smarting. So, many are looking for cover in companies that don’t have exposure to China or that could potentially benefit from these talks.

While Alibaba is of course not a U.S. company, it is a key cross-border trader in Asia, and in Hong Kong and Mainland China.

The firm’s most recent quarterly results were considered “good enough” for most investors, based on the reaction. At that point, analysts were fairly positive on the stock and raised their price targets in response.

Excluding Tuesday’s move, Alibaba had outperformed the broad markets, with its stock up about 24% year to date. In the past 52 weeks, the stock was actually down 13%.

A few analysts weighed in on Alibaba ahead of the report:

• T.H. Capital has a price target of $220 price target.
• KeyCorp has an Overweight rating and a $240 price target.
• Barclays has an Overweight rating with a $220 target price.
• Robert Baird’s Outperform rating comes with a $195 target.
• Morgan Stanley has a Buy rating and a $196 price target.

Shares of Alibaba were last seen up less than 2% at $172.99, in a 52-week range of $129.77 to $211.70. The consensus price target is $206.01.

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