Susquehanna analyst Shyam Patil lowered the firm’s price target on Alibaba (BABA) to $170 from $190 and keeps a Positive rating on the shares. The firm said they posted F3Q with revenue and profitability below expectations as the company has increased investments to drive long-term growth. Management emphasized these investments are expected to continue across the company’s strategic growth areas, including Quick Commerce and its AI + Cloud offerings, and is expected to continue pressuring profitability.
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