BEIJING: Analysts have cut their price targets for Alibaba Group Holding Ltd shares after the stock fell to a post-flotation low on Aug 13 on weak earnings and concerns over China's economy.
Alibaba's shares are now at US$73.38 (RM295.54), hovering just above their initial public offering price of US$68 (RM273.87). The average target price fell from US$106.82 (RM430.22) on Aug 11 to US$99.09 (RM399.08) on Aug 13, according to a Thomson Reuters survey of 46 analysts.
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