JP Morgan Maintains Overweight on Alibaba Gr Holding, Lowers Price Target to $110
Portfolio Pulse from Benzinga Newsdesk
JP Morgan analyst Alex Yao has maintained an Overweight rating on Alibaba Group Holding (NYSE:BABA) but has reduced the price target from $125 to $110.

January 09, 2024 | 2:34 pm
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JP Morgan has maintained an Overweight rating on Alibaba but lowered the price target from $125 to $110, indicating a positive outlook but with tempered expectations.
While the Overweight rating suggests that JP Morgan still sees Alibaba as a good investment, the reduction in the price target could imply a more conservative view on the company's growth prospects or market conditions. This might lead to a neutral short-term impact on the stock as investors digest both the reaffirmation of the positive rating and the lower price target.
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IMPORTANCE 75
RELEVANCE 100