Weekly Recap | Alibaba -2.03%, consensus target above spot
Weekly Review·
- Alibaba stock fell 2.03 % this week to close at 109.11 dollars, underperforming the S & P 500 amid volatile trading and lower-than-median volume.
- Key drivers included Alibaba Cloud turning a profit, AI commercialization progress, Fitch confirming an A rating, and preparations for the upcoming Singles Day shopping festival.
- Forty-three analysts consensus-rated the stock as a strong buy with a target price of 186.11 dollars, representing about 70.6 % upside potential.