JP Morgan Maintains Overweight on Alibaba Gr Holding, Lowers Price Target to $100
Portfolio Pulse from Benzinga Newsdesk
JP Morgan analyst Alex Yao maintains an Overweight rating on Alibaba Group Holding (NYSE:BABA) but lowers the price target from $105 to $100.
April 09, 2024 | 3:11 pm
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NEUTRAL IMPACT
JP Morgan maintains an Overweight rating on Alibaba but reduces the price target from $105 to $100.
The adjustment in price target by JP Morgan reflects a slight moderation in their valuation assessment of Alibaba, likely due to updated market conditions or company performance insights. However, maintaining an Overweight rating indicates a continued positive outlook on the company's fundamentals. This mixed signal could lead to neutral short-term price movement as investors digest both the maintained confidence and the lowered price target.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100