Daiwa Reduces PT on Alibaba Group Holding Limited (BABA) Stock

Alibaba Group Holding Limited (NYSE:BABA) is one of the Best Cloud Computing Stocks to Buy According to Hedge Funds. On June 24, Daiwa reduced the price objective for the company's stock to $175 from the previous target of $200 and maintained a "Buy" rating on the shares. According to the firm, China's 2026 618 shopping festival was a negative surprise. The firm opines that there is weakness in the e-commerce consumption trend in China.

Furthermore, the growth of the broader sector is limited due to the difficult macro backdrop, tightening of regulations, scaled-back national trade-in program, etc. Therefore, the firm downgraded China's e-commerce sector.

In a separate update, Bloomberg reported that Alibaba Group Holding Limited (NYSE:BABA) sued the Department of Defense to be removed from the blacklist, which identifies the company as a supporter of the Chinese military. The company had appealed to the US justice system to avoid such a designation, which (according to the company) is arbitrary and unjustified.

Alibaba Group Holding Limited (NYSE:BABA) operates as a technology infrastructure and marketing solutions provider.

While we acknowledge the potential of BABA as an inv

Fuente original: Yahoo Finance (https://finance.yahoo.com/markets/stocks/articles/daiwa-reduces-pt-alibaba-group-221741927.html)