UPDATE: Alibaba (BABA) PT Lowered to $254 at BofA Securities
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Alibaba (BABA) Stock Slips as Raymond James Downgrades to Outperform from Strong Buy on Slowing eCommerce Growth Outlook
October 1, 2021 5:03 AM EDTShares of Alibaba Group (NYSE: BABA) are down over 1.2% in pre-open Friday after Raymond James analyst Aaron Kessler downgraded to Outperform from Strong Buy.
The analyst cites a slowdown in the eCommerce growth outlook behind his decision to downgrade Alibaba stock, while he also lowered the price target to $240.00 per share from the prior $300.000.
The eCommerce growth outlook has slowed about 8% in Q3 in China, driven by a slowdown in the overall sales of... More
