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Alibaba price target lowered to $131 from $135 at HSBC

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.

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