Citi analyst Alicia Yap lowered the firm’s price target on Alibaba to $122 from $124 and keeps a Buy rating on the shares following the fiscal Q4 report. The analyst sees the company’s initial positive progress demonstrated by a reacceleration of growth led by its strategic reinvestment and “undemanding valuation” as further supported by its “solid” shareholder return policy.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BABA:
- Alibaba Group Sees Revenue Growth and Strategic Gains
- BABA Earnings: Alibaba Declines After Net Income Plunged in Q4
- Options Volatility and Implied Earnings Moves Today, May 14, 2024
- Notable companies reporting before tomorrow’s open
- What Wall Street experts are saying about Alibaba ahead of earnings