Alibaba Shows Resilience In E-commerce, Analyst Highlights Signs Of Market Stabilization In China

Susquehanna analyst Shyam Patil reiterated a Positive view on Alibaba Group Holding Limited BABA and cut the price target from $160 to $150.

Also Read: What's Going On With Alibaba Stock Wednesday?

While BABA remains pressured by the choppy macro, management pointed to signs of stabilization in Chinese consumption trends. 

The company also announced some changes to its restructuring plan, with the Cloud unit no longer expected to fully spin-off from the group. Despite some near-term uncertainty, Patil continues to like BABA's positioning as the leading China e-commerce player and its significant secular growth opportunity.

Price Action: BABA shares traded lower by 0.20% at $78.78 on the last check Wednesday.