What To Know About Bernstein's Downgrade of Alibaba Group Holding
Portfolio Pulse from Benzinga Insights
Bernstein has downgraded its rating of Alibaba Group Holding (NYSE:BABA) to Market Perform with a new price target of $98.00, down from $130.00. Alibaba's shares are currently trading up 2.03% at $87.20 per share. A move to $98.00 would account for a 12.38% increase from the current share price.
June 27, 2023 | 5:01 pm
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NEGATIVE IMPACT
Bernstein has downgraded Alibaba's rating and lowered its price target. This could potentially impact the stock's performance in the short term.
Analyst ratings and price targets can significantly influence investor sentiment and stock performance. The downgrade by Bernstein and the lowering of the price target may lead to a negative perception of Alibaba's stock, potentially causing a decrease in its price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100