
StockNews.com Downgrades Alibaba Group (NYSE:BABA) to Hold

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StockNews.com has downgraded Alibaba Group (NYSE:BABA) from a "buy" to a "hold" rating. Despite this downgrade, several analysts have set higher price targets for the stock, with JPMorgan raising it to $170 and Morgan Stanley to $180. Currently, Alibaba's stock is trading at $123.37, with a market cap of $294.59 billion. The company reported earnings of $2.77 per share, missing estimates, but had revenue of $38.38 billion, exceeding expectations. Institutional investors have recently increased their stakes in Alibaba, which operates in various segments including commerce and cloud services.
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