Alibaba Stock Price Target Cut Again as More Analysts Smile on Rival

alibaba stock price target cut again as more analysts smile on rival jd com

Sumary of Alibaba Stock Price Target Cut Again as More Analysts Smile on Rival

  • Alibaba, like its peers in Chinese tech, has been under pressure for much of this year.
  • David Becker/Getty Images After a year of regulatory pressure and, more recently, disappointing quarterly earnings, Alibaba stock has been undergoing a reevaluation by Wall Street.
  • Some financial analysts have even been making the case that the Chinese e-commerce giant’s competitor, JD.
  • Analysts led by Shyam Patil at the investment group cut their price target on Alibaba stock by 35% Wednesday—from $310 to $200—but maintained their Positive rating.
  • The stock is near its lowest point since late 2018, and has declined more than 40% in 2021. “Alibaba has been dealing with a regulatory overhang, and now the slowing macro in China is pressuring the business in the near-term,” the team at Susquehanna said.
  • The gloomy financial results added pressure to a stock that has already been beaten down this year, along with much of the rest of Chinese tech.
  • China’s internet giants have found themselves on the wrong side of regulators as President Xi Jinping tightens his control over the economy, though some experts now believe the worst is over.
  • “Although Covid may continue to cause periods of softness in the near-term macro, we continue to view Alibaba as the China e-commerce category killer with a large secular growth opportunity and maintain our long-term-oriented positive view,” they added.

Want to know more click here go to source.

From -

Generic selectors
Exact matches only
Search in title
Search in content

Site Language

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.