Benchmark lowered the firm’s price target on Alibaba (BABA) to $176 from $190 and keeps a Buy rating on the shares. Alibaba missed fiscal Q4 revenue expectations due to softer AIDC performance and “outdated consensus estimates that didn’t account for recent asset divestitures,” the analyst tells investors. However, “stripping out the noise,” core commerce and Cloud showed strong acceleration, adds the analyst, who lowered the firm’s price target to reflect a lowered FY26 profitability forecast given the likely ramp-up in instant commerce investments.
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