<h5><em>本文由 Shalu Saraf 撰写，Gilan Miller-Gertz 审阅。</em></h5>
<p>阿里巴巴（BABA）的股价在周二下跌超过 3%，原因是 Freedom Capital Markets 的分析师 Roman Lukianchikov 将该股票评级从买入下调至持有，并将其目标价从 180 美元下调至 140 美元。尽管阿里巴巴公布了超出预期的 2026 财年第二季度业绩，但分析师指出公司核心零售业务的支出增加和增长放缓。</p>
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<h2><strong>Freedom Capital Markets 对阿里巴巴持谨慎态度</strong></h2>
<p>Lukianchikov 表示，阿里巴巴最新季度业绩超出预期，但他仍然看到成本风险上升。在他看来，关键问题不是增长，而是支持增长所需的成本上升。</p>
<p>他说，云业务仍然是一个关键优势，得益于对人工智能需求的增长，收入同比增长约 34%。尽管如此，Lukianchikov 警告称，支出增加影响了可见性，因为尚不清楚这些投资何时会带来回报。</p>
<p>与此同时，分析师指出阿里巴巴核心零售业务的进展缓慢。尽管广告支出支持了销售，但增长仍落后于其他电子商务领军企业。在他看来，这表明阿里巴巴可能需要继续增加支出才能保持竞争力。</p>
<p>综合来看，Lukianchikov 表示这些趋势限制了短期的上行空间。因此，他倾向于暂时观望，指出需要在成本和回报上有更清晰的进展。</p>
<h2><strong>阿里巴巴股票现在值得购买吗？</strong></h2>
<p>尽管存在这些风险，华尔街对该股票仍持积极态度。阿里巴巴股票在过去三个月内的共识评级为强买入，基于 14 个买入评级和一个持有评级。BABA 的平均目标价为 205.41 美元，较当前水平大约有 36% 的上行空间。</p>

阿里巴巴

阿里巴巴-W

2 倍做多阿里巴巴 ETF - KraneShares

BABO

2 倍做多 BABA ETF - GraniteShares

<p>阿里巴巴（BABA）的股价下跌超过 3%，原因是分析师 Roman Lukianchikov 将该股票评级下调至持有，并将目标价从 180 美元下调至 140 美元。尽管阿里巴巴公布的 2026 财年第二季度业绩好于预期，但对成本上升和零售行业增长放缓的担忧导致了这种谨慎的态度。虽然阿里巴巴的云收入因人工智能需求增长了 34%，但分析师指出，增加的支出正在影响回报的可见性。华尔街对该股维持强烈买入的共识，平均目标价为 205.41 美元，显示出潜在的上涨空间</p>

<h5><em>This article was written by Shalu Saraf and reviewed by Gilan Miller-Gertz.</em></h5>
<div class="lb-trans"><h5><em>本文由 Shalu Saraf 撰写，Gilan Miller-Gertz 审阅。</em></h5>
</div><p>Shares of Alibaba (BABA) fell more than 3% on Tuesday after Freedom Capital Markets analyst Roman Lukianchikov downgraded the stock to Hold from Buy and cut his price target to $140 from $180. The move came despite Alibaba reporting better-than-expected Q2 FY26 results, as the analyst pointed to higher spending and slower growth in the company's core retail business.</p>
<div class="lb-trans"><p>阿里巴巴（BABA）的股价在周二下跌超过 3%，原因是 Freedom Capital Markets 的分析师 Roman Lukianchikov 将该股票评级从买入下调至持有，并将其目标价从 180 美元下调至 140 美元。尽管阿里巴巴公布了超出预期的 2026 财年第二季度业绩，但分析师指出公司核心零售业务的支出增加和增长放缓。</p>
</div><h3>Claim 70% Off TipRanks Premium</h3>
<div class="lb-trans"><h3>在 TipRanks Premium 上享受 70% 的折扣</h3>
</div><ul>
<li>Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions</li>
<li>Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential</li>
</ul>
<div class="lb-trans"><ul>
<li>解锁对冲基金级别的数据和强大的投资工具，以做出更聪明、更精准的决策</li>
<li>通过最新的新闻和分析保持市场领先，最大化您的投资组合潜力</li>
</ul>
</div><h2><strong>Freedom Capital Markets Turns Cautious on Alibaba</strong></h2>
<div class="lb-trans"><h2><strong>Freedom Capital Markets 对阿里巴巴持谨慎态度</strong></h2>
</div><p>Lukianchikov said Alibaba's latest quarter beat expectations, but he still sees rising cost risks. In his view, the key issue is not growth, but the rising cost needed to support it.</p>
<div class="lb-trans"><p>Lukianchikov 表示，阿里巴巴最新季度业绩超出预期，但他仍然看到成本风险上升。在他看来，关键问题不是增长，而是支持增长所需的成本上升。</p>
</div><p>He said cloud remains a key strength, with revenue rising about 34% from a year ago due to growing demand for AI. Still, Lukianchikov cautioned that higher spending is weighing on visibility, as it remains unclear when those investments will pay off.</p>
<div class="lb-trans"><p>他说，云业务仍然是一个关键优势，得益于对人工智能需求的增长，收入同比增长约 34%。尽管如此，Lukianchikov 警告称，支出增加影响了可见性，因为尚不清楚这些投资何时会带来回报。</p>
</div><p>At the same time, the analyst pointed to slower progress in Alibaba's core retail business. While ad spending supported sales, growth continued to trail other e-commerce leaders. In his view, this suggests Alibaba may need to keep spending more just to stay competitive.</p>
<div class="lb-trans"><p>与此同时，分析师指出阿里巴巴核心零售业务的进展缓慢。尽管广告支出支持了销售，但增长仍落后于其他电子商务领军企业。在他看来，这表明阿里巴巴可能需要继续增加支出才能保持竞争力。</p>
</div><p>Taken together, Lukianchikov said these trends limit near-term upside. As a result, he prefers to remain on the sidelines for now, citing the need for clearer progress on costs and returns.</p>
<div class="lb-trans"><p>综合来看，Lukianchikov 表示这些趋势限制了短期的上行空间。因此，他倾向于暂时观望，指出需要在成本和回报上有更清晰的进展。</p>
</div><h2><strong>Is Alibaba Stock a Buy Now?</strong></h2>
<div class="lb-trans"><h2><strong>阿里巴巴股票现在值得购买吗？</strong></h2>
</div><p>Even with these risks, Wall Street remains constructive on the stock. Alibaba stock carries a Strong Buy consensus rating, based on 14 Buy ratings and one Hold over the past three months. The average BABA price target stands at $205.41, suggesting roughly 36% upside from current levels.</p>
<div class="lb-trans"><p>尽管存在这些风险，华尔街对该股票仍持积极态度。阿里巴巴股票在过去三个月内的共识评级为强买入，基于 14 个买入评级和一个持有评级。BABA 的平均目标价为 205.41 美元，较当前水平大约有 36% 的上行空间。</p>
</div>

Why Alibaba Stock (BABA) Fell on Tuesday

- 阿里巴巴股票因分析师下调评级而下跌超过 3%。  
- 尽管公司第二季度业绩超预期，分析师仍对成本风险表示担忧。  
- 尽管面临挑战，华尔街对阿里巴巴股票整体仍持乐观态度。

为什么阿里巴巴股票（BABA）在周二下跌