Court: S.D. New York
Case: 1:20-cv-09568
- Alibaba BABA shares dropped 2.1% after Arete Research downgraded the stock from “Strong Buy” to “Hold,” citing valuation concerns.
- The move comes despite other firms maintaining bullish outlooks, including Citigroup and Bernstein, with an average target price of $154.13.
- Alibaba currently trades around $114.50, with analysts highlighting its strong fundamentals but cautioning on upside after recent gains.
- The company’s market cap stands at $273 billion, with a P/E of 15.37 and a low beta of 0.22.
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- At the same time, Alibaba agreed to a $433.5 million settlement with investors over claims it misled them about Ant Group’s regulatory issues that impacted its IPO and lending business.
You can check more information about it and file for a payout here.
