Morgan Stanley Adjusts Alibaba Stock Price Target
Morgan Stanley Adjusts Alibaba Stock Price Target
Morgan Stanley, a prominent financial institution, maintained its 'top pick' rating for Alibaba (BABA) stock despite cutting its price target. Analyst Gary Yu revised the target from $190 to $180 ahead of late-August earnings, noting that the new target still represents a significant upside from current share prices.
Morgan Stanley's Outlook on Alibaba
Morgan Stanley continues to view Alibaba (BABA) stock favorably, designating it a 'top pick' even after a recent adjustment to its price target. Analyst Gary Yu has lowered the target to $180 from an earlier $190. This decision comes two weeks prior to Alibaba's anticipated late-August earnings report. Despite the cut, the revised target suggests a potential gain of approximately 60% from the $112.14 closing price of BABA shares on Friday, indicating a strong belief from Wall Street in the stock's future value.