Posted 1/1/2024, 7:39:54 PM
Alibaba Stock Drops on China Woes But Analysts Still See Major Upside Potential
- Alibaba stock has declined significantly in recent years due to regulatory pressures and a weak Chinese economy
- Analysts remain bullish on the long-term growth potential of Alibaba's e-commerce and cloud businesses
- The company restructured into 6 separate business units in 2022 to address regulatory issues and pursue future IPOs
- Analysts from Jefferies and J.P. Morgan recently reiterated Buy ratings on BABA stock with upside targets of 85% and 59%
- On TipRanks, Alibaba has a Strong Buy consensus with analysts forecasting 67% upside over the next 12 months