BABA Shares Should Rise
Baba shares should rise.
Baba shares should rise as the brokerage company Stifel is still confident in Alibaba’s long-term prospects. There was an Alibaba investor event that lasted two days. An analyst from Stifel, Scott Devitt, attended this event.
Mr. Devitt reduced his near-term estimates expectations. His rationale is that the company’s newer businesses are in the early stages of acquiring market share. He has a Buy rating and a $220 price target on Baba shares.
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Baba stock has been in free fall for the past 4 months. On June 14th, Baba stock ended the day at $210.86. If we do not count today’s outburst of around $6.00, Baba shares are down around 25%.