HSBC analyst Charlene Liu lowered the firm’s price target on Alibaba to $131 from $135 and keeps a Buy rating on the shares. The company canceled plans for a full spin-off of its cloud business while strong growth in international retail offset weaker outlook for CRM and cloud businesses, the analyst tells investors in a research note. The firm says Alibaba is balancing short-term goals and long-term growth.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on BABA:
- Cost to Not List a Cloud Business? For Alibaba (NYSE:BABA), $20 Billion
- TipRanks’ All-Star Analyst – Who is the Best on BABA Stock?
- Alibaba scrapping cloud IPO may be right decision, says Barclays
- Alibaba price target lowered to $142 from $147 at Citi
- Alibaba price target lowered to $113 from $136 at BofA