Analysts React to Alibaba Earnings Report Through Price Target Revisions
Wednesday, 15 May 2024, 12:35
Analysts React to Alibaba Earnings
Following Alibaba's earnings report, investors faced disappointment as the stock tumbled by 6.02% on the NYSE in response to an 86% profits decline. Multiple analysts, including Truist Securities and CFRA Research, swiftly revised their price targets. Notably, CFRA's Angelo Zino expressed concerns over Alibaba's business performance and its dual listing strategy in Hong Kong.
Price Target Revisions
- Truist Securities lowered the price target for BABA shares from $113 to $110 post-earnings.
- CFRA Research set a 52-week price target of $86 and initiated a 'hold' rating.
- Notable investor Gurgavin Chandhoke maintained a $105 price target despite the recent developments.
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