Alibaba price target lowered to $100 from $105 at JPMorgan

JPMorgan lowered the firm’s price target on Alibaba to $100 from $105 and keeps an Overweight rating on the shares. The firm expect widening losses from international commerce and Cainiao, but still sees international ecommerce and Cainiao’s revenue growth rate to remain in healthy double digits for at least two years, the analyst tells investors in a research note. JPMorgan, which expects the growth rate of customer management revenue to accelerate in the March quarter vs. the December quarter due to increasing ecommerce online penetration and a slowdown of market share loss, suggests investors buy shares on share price weakness.