Alibaba shares are trading lower after Morgan Stanley downgraded the stock from Overweight to Equal-Weight and lowered its price target from $110 to $90.
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley downgraded Alibaba's stock from Overweight to Equal-Weight and reduced the price target from $110 to $90, causing shares to trade lower.
December 01, 2023 | 3:32 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Alibaba's stock was downgraded by Morgan Stanley from Overweight to Equal-Weight, with a price target cut from $110 to $90, leading to a decline in share price.
Analyst downgrades typically lead to a negative short-term reaction in the stock market as they suggest a less optimistic outlook on the company's future performance. The reduction in price target further indicates a lowered expectation of the stock's value, which can lead to selling pressure and a decrease in share price.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100