Daiwa Reduces PT on Alibaba Group Holding Limited (BABA) Stock
Key takeaways
- 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.
- 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.
- The company had appealed to the US justice system to avoid such a designation, which (according to the company) is arbitrary and unjustified.
Daiwa Reduces PT on Alibaba Group Holding Limited (BABA) Stock Bob Karr Sun, June 28, 2026 at 5:17 AM GMT+7 1 min read BABA 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.