Bernstein Downgrades Alibaba Group Holding to Market Perform, Lowers Price Target to $98
Portfolio Pulse from richadhand@benzinga.com
Bernstein analyst Robin Zhu downgrades Alibaba Group Holding (NYSE:BABA) from Outperform to Market Perform and lowers the price target from $130 to $98.
June 27, 2023 | 8:23 am
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Alibaba's rating has been downgraded by Bernstein from Outperform to Market Perform, with a reduced price target of $98.
The downgrade by Bernstein analyst Robin Zhu from Outperform to Market Perform and the lowering of the price target from $130 to $98 indicates a less optimistic outlook for Alibaba's stock performance in the short term. This could lead to a negative impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100