Alibaba Shows Resilience In E-commerce, Analyst Highlights Signs Of Market Stabilization In China
Portfolio Pulse from Anusuya Lahiri
Susquehanna analyst Shyam Patil has maintained a Positive view on Alibaba Group Holding Limited (NYSE:BABA) but reduced the price target from $160 to $150, citing signs of stabilization in Chinese consumption trends. Alibaba's restructuring plan has been adjusted, with the Cloud unit no longer set to spin-off. Despite near-term uncertainties, Patil is optimistic about Alibaba's market position and growth potential. BABA's stock saw a slight decrease of 0.20% to $78.78.
November 22, 2023 | 5:12 pm
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Alibaba's price target has been reduced from $160 to $150 by Susquehanna analyst Shyam Patil, who remains positive on the company's future despite near-term uncertainties and the cancellation of the Cloud unit spin-off.
The reduction in Alibaba's price target reflects caution due to near-term uncertainties, but the overall positive outlook from the analyst suggests confidence in the company's long-term prospects. The cancellation of the Cloud unit spin-off may introduce some uncertainty, but the analyst's continued support could mitigate any negative short-term impact on the stock price.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100