- The share price of Alibaba Group Holding Ltd (NYSE: BABA) received a target price of $ 330 by Raymond James. Those are the details.
The share price of Alibaba Group Holding Ltd (NYSE: BABA) received a target price of $ 330 by Raymond James. And Aaron Kessler, an analyst at Raymond James, maintained a “Buy” rating on Alibaba.
Kessler believes that recent antitrust concerns are already included in Alibaba’s share price. Yesterday, Alibaba’s stock price fell more than 10% due to news that Chinese regulators launched an investigation into the company for alleged monopoly behavior.
In a research note, Kessler said he was not surprised by the announcement, as the company’s biggest risk with respect to antitrust guidelines in China was the application of exclusive deals.
Kessler believes that the most likely outcome will be the end of a series of exclusive relationships. And he believes that the action is largely pricing concerns.
Disclosure: I have a small BABA position in my stock portfolio.