Analysts See Considerable Upside In Alibaba Despite Price Target Cut - Read Why - Alibaba Gr Hldgs (NYSE:BABA)

Raymond James analyst Aaron Kessler downgraded Alibaba Group Holding Ltd BABA to Outperform from Strong Buy with a price target of $240, down from $300, implying a 62.1% upside.
While Kessler remains positive on Alibaba long-term and believes valuation remains attractive, the analyst feels the recovery in shares could take longer given the recent slowing of e-commerce growth combined with continued regulatory actions across China.
Though some of the issues are transitory, Kessler believes these factors weigh on consumer retail growth near-term, and there is higher uncertainty in growth recovery.
Keybanc analyst Hans Chung maintains Alibaba with an Overweight and lowers the price target from $250 to $200, indicating a 35.1% upside.
Chung expects lower CMR on slower GMV growth for Q2 due to weaker than expected macro.
Price Action: BABA shares traded lower by 0.71% at $147 in the market session on the last check Friday.

Analysts See Considerable Upside In Alibaba Despite Price Target Cut - Read Why