Truist Securities has decided to maintain its Buy rating of Alibaba Group Holding (NYSE:BABA) and lower its price target from $180.00 to $132.00.
Shares of Alibaba Group Holding are trading down 2.51% over the last 24 hours, at $89.68 per share.
A move to $132.00 would account for a 47.19% increase from the current share price.
About Alibaba Group Holding
Alibaba is the world's largest online and mobile commerce company as measured by gross merchandise volume (CNY 7.5 trillion for the fiscal year ended March 2021). It operates China's online marketplaces, including Taobao (consumer-to-consumer) and Tmall (business-to-consumer). Alibaba's China commerce retail division accounted for 63% of revenue in the September 2021 quarter. Additional revenue sources include China commerce wholesale (2%), international retail/wholesale marketplaces (5%/2%), cloud computing (10%), digital media and entertainment platforms (4%), Cainiao logistics services (5%), and innovation initiatives/other (1%).
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This article was generated by Benzinga's automated content engine and reviewed by an editor.
