JPMorgan lowered the firm’s price target on Alibaba (BABA) to $230 from $240 and keeps an Overweight rating on the shares following the fiscal Q2 report. The firm sees Alibaba’s consolidated earnings hitting an “inflection point” in Q3, with a “meaningful recovery” starting in Q4 as the company transitions from user-scale-driven growth to a more profitable efficiency-driven model. JPMorgan sees a good risk/reward setup at current share levels for investors to build or add to positions in Alibaba “ahead of this multi- quarter earnings recovery cycle.”
TipRanks Black Friday Sale
- Claim 60% off TipRanks Premium for the data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BABA:
- Alibaba price target lowered to $190 from $200 at Bernstein
- Alibaba price target raised to $225 from $218 at Citi
- Strong AI-Driven Growth and Strategic Focus Justify Buy Rating for Alibaba
- Alibaba price target raised to $195 from $190 at Barclays
- Alibaba Group’s Strategic Investments Impact Earnings