Weekly Recap | ZTO Express -7.01%, Alibaba stake sale weighs
Weekly Review·
- ZTO Express experienced a cumulative decline of 7.01 % this week to close at 19.49 dollars, significantly underperforming the S & P 500.
- The downward pressure was primarily driven by market reports regarding Alibaba reducing its stake by selling 25 million American Depositary Receipts worth approximately 500 million dollars.
- Despite the pullback, 18 institutions maintain a consensus buy rating with an average target price of 28.17 dollars, indicating potential upside of about 44.5 %.