Bernstein trims Alibaba target to $165 after $10.2B equity raise
Bernstein SocGen lowered its Alibaba NYSE:BABA price target to $165 from $180 after the company’s $10.2 billion equity raise. Analyst Robin Zhu maintained a Buy rating, citing questions on deal timing and optics and AI spending.
2 billion equity raise raised doubts about AI spending. Analyst Robin Zhu cut the target to $165 from $180 and kept a Buy rating. He questioned the timing and optics of the deal, but did not doubt Alibaba’s growth opportunity.