- The stock price of Alibaba Group Holding Ltd (NYSE: BABA) has received a price target of $330 by Raymond James. These are the details.
The stock price of Alibaba Group Holding Ltd (NYSE: BABA) has received a price target of $330 by Raymond James. And Raymond James analyst Aaron Kessler maintained a “Buy” rating on Alibaba.
Kessler believes that the recent antitrust concerns are already priced into Alibaba’s stock price. Yesterday, the stock price of Alibaba fell over 10% due to news that Chinese regulators launched an investigation into the company for alleged monopolistic behaviors.
In a research note, Kessler said that he was not surprised by the announcement given that the company’s largest risk from the antitrust guidelines in China was the enforcement of exclusive deals.
Kessler believes that the most likely outcome will be the termination of a number of exclusive relationships. And he believes that the stock is largely pricing the concerns.
Disclosure: I have a small BABA position in my stock portfolio.
