Baird raises Alibaba stock price target on earnings outlook By Investing.com
Baird, a financial services firm, has increased its price target on Alibaba (NYSE:) Group Holding Limited (NYSE: BABA) shares to $110 from the previous $88.
The firm maintained its Outperform rating on the stock. The adjustment reflects a more optimistic view of the company’s earnings potential despite some industry challenges.
The analyst from Baird acknowledged Alibaba’s position as a robust technology platform with significant scale advantages. However, concerns were expressed regarding the rate at which consumer and online spending in China could improve, given the intense competition in the market. The firm has adjusted its near-term expectations to slightly below the consensus, with a reduction in top-line estimates for the…
