Alibaba Changes Cloud Business Head, Here's A Look At Recent Price Target Cuts By The Most Accurate Analysts

Alibaba Group Holding Limited BABA made a few major organizational reshuffling at Alibaba Cloud per Jack Ma's policy to ensure the company always stays agile in the fast-changing internet space.

Jeff Zhang, former president of Alibaba Cloud Intelligence, departed while Alibaba's CEO Daniel Zhang became the acting president, TechCrunch reported.

Alibaba shares gained 2.2% to close at $89.13 on Thursday, but dropped 1.2% in today’s pre-market trading sesssion.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let’s have a look at how Benzinga’s most-accurate analysts have rated the Chinese company in the recent period.

• Truist Securities analyst Youssef Squali maintained a Buy rating on the stock on November 18, 2022, and slashed the price target from $125 to $120. This analyst sees over 35% upside in the company’s stock and has an accuracy rate of 65%.
• Benchmark analyst Fawne Jiang maintained a Buy rating on November 18, 2022, and cut the price target from $206 to $180. This analyst sees around 102% upside in the company’s stock and has an accuracy rate of 63%.
• HSBC’s analyst Charlene Liu maintained a Buy rating on November 18, 2022, and reduced the price target from $132 to $124. This analyst sees around 39% upside in the company’s stock and has an accuracy rate of 34%.
• Mizuho’s analyst James Lee maintained a Buy rating on November 18, 2022, and cut the price target from $160 to $155. This analyst sees around 74% upside in the company’s stock and has an accuracy rate of 65%.
• UBS analyst Jerry Liu reiterated a Buy rating on the stock on November 18, 2022, and slashed the price target from $140 to $135. This analyst sees around 51% upside in the company’s stock and has an accuracy rate of 52%.

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