Why Alibaba Stock Was Underwater Today
Monster Chinese tech company Alibaba Group (NYSE: BABA) wasn't looking all that mighty on the second-to-last trading day of the week, at least as far as its American depositary receipts (ADRs) were concerned. They shed 0.6% of their value that day, with a recommendation downgrade from an analyst being a chief catalyst. Alibaba's dip was close to that of the S 500 (SNPINDEX: ^GSPC) that day.
Well before the market open Thursday, US Tiger Securities' Bo Pei changed his Alibaba recommendation to buy from hold. Counterintuitively, this was accompanied by a price target raise to $180 per ADR from the pundit's previous level of $145.
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Source Fool.com
Alibaba Group Holding Ltd ADR Stock
€108.00
-0.740%
The stock is an absolute favorite of our community with 47 Buy predictions and no Sell predictions.
With a target price of 164 € there is a hugely positive potential of 51.85% for Alibaba Group Holding Ltd ADR compared to the current price of 108.0 €.
