Alibaba Records Lowest Close in 15 Months

BEIJING, Oct. 10 (SEE)-  Alibaba Shares fell by about 5% on Wednesday, heading to record the lowest close in about 15 months with a reduction in the target price per share at $ 139.91.

Gregory Zhao, Wall Street Analyst at Barclays had cut the company’s target price from $ 225 to $ 210.

Zhao attributed the reason for the downgrade of the Beijing-based company to the headwinds facing China’s economy as long as the negative impact of lower margin investments in new retail initiatives.

Zhao also lowered his outlook on advertising revenue growth to 23% from 27% given China’s macroeconomic slowdown.

He predicted that EBITDA would be 23.4 billion yuan compared to a previous estimate of 26 billion yuan.

Separately, Cable Capital cut Alibaba’s target price to $ 215 from $ 220, citing lower core trade expectations.

The company’s share of e-services is heading towards the lowest closing since 2017.

Alibaba lost about 27 percent of its value over the past three months.

Leave your vote

0 points
Upvote Downvote

Total votes: 0

Upvotes: 0

Upvotes percentage: 0.000000%

Downvotes: 0

Downvotes percentage: 0.000000%

Leave a Reply

Your email address will not be published. Required fields are marked *

Hey there!

Forgot password?

Forgot your password?

Enter your account data and we will send you a link to reset your password.

Your password reset link appears to be invalid or expired.

Close
of

Processing files…