Citi says shares of Alibaba (BABA) closed lower Friday after the Financial Times reported that a White House memo claimed the company provided Chinese military with technology support against targets in the U.S. The firm believes Alibaba complies with all applicable laws but sees the report serving as a near-term overhang on the stock. Citi sees any selloff as a buying opportunity and keeps a Buy rating on Alibaba with a $218 price target
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:
- GOOGL, NVDA, TSLA: Cathie Wood’s ARK Invest Loads Up Big on Mag 7 Stocks in Q3
- Alibaba’s Stock Dips Amidst Regulatory Challenges
- AI Analyst Downgrades Alibaba Stock (BABA) to Hold and Trims Price Target Despite Wall Street Optimism
- This Billionaire Investor Bets Big on AMD and Nvidia (NVDA) Stocks, Stays Bullish on Banks
- Alibaba helping Chinese military, White House memo claims, FT reports