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Long-Time Alibaba Bull Just Slashed His Price Target

Alibaba NYSE:BABA, iShares FTSE/Xinhua China 25 Index Fund ETF ETF:FXI - Long-Time Alibaba Bull Just Slashed His Price Target
  • MKM Partners' Rob Sanderson slashed the firm's price target from $105 to $85, a near 20 percent decline.
  • Though MKM is taking a more cautious tone on the stock, Sanderson reiterated the firm's recommendation to accumulate "the stock on weakness."

Alibaba has taken a disproportionate hit from investors' concerns over China, MKM Partners' Sanderson argued in a new research note. The stock has declined 37 percent this year, compared with a 12 percent decline in iShares FTSE/Xinhua China 25 Index FXI 2.63% and a 17...


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