Bernstein cuts Alibaba target to $165, keeps Buy rating
Bernstein cut its price target on Alibaba Group Holding (BABA) to $165 from $180 and kept a Buy rating, citing investor concerns around the company’s recent $10.2 billion equity raise.
Bernstein cut its price target on Alibaba Group Holding NYSE:BABA to $165 from $180, citing investor concerns over the company’s recent $10.2 billion equity raise, while keeping its Buy rating. Analyst Robin Zhu said the fundraising has raised questions because Alibaba held more than $30 bill…