• Fri. Apr 19th, 2024

JPMorgan, Morgan Stanley Slash Alibaba’s Price Target: Report – Alibaba Group Holding (NYSE:BABA)

ByAnusuya Lahiri

Sep 30, 2022
JPMorgan, Morgan Stanley Slash Alibaba's Price Target: Report - Alibaba Group Holding (NYSE:BABA)


  • JPMorgan Chase & Co and Morgan Stanley analysts cut their price target for Alibaba Group Holding Limited BABA, turning more pessimistic about the Chinese e-commerce giant on sales concerns.
  • Alibaba’s sales outlook for the September quarter is eroding on soft China consumption, Bloomberg reports citing analysts. 
  • JPMorgan cut its price target for Alibaba to $135 from $145, citing a weakening revenue outlook in the near term that could continue to weigh on the share price despite an unchanged, or even potentially better, profit outlook.
  • Also Read: Alibaba Cloud Goes Aggressive On Overseas Collaboration
  • JPMorgan believed sentiment-driven fund flow is the current key share price driver and revenue recovery is the critical determinant of market sentiment.
  • Morgan Stanley also cut Alibaba’s share price to $110 from $140, citing weak consumption and soft merchant sentiment.
  • JPMorgan said macro headwinds in China might limit improvement in Alibaba’s core sales, given the low visibility of a recovery in consumer sentiment and COVID policy relaxation. 
  • Earlier, a JPMorgan report triggered broad selloffs after calling the sector “uninvestable.” 
  • Since then, JPMorgan lifted the price target and upgraded the industry in May, citing an improved regulatory environment
  • Price Action: BABA shares closed lower by 2.38% at $79.06 on Friday.


Image and article originally from www.benzinga.com. Read the original article here.