Alibaba is trading at $165.49 (-3.2%) as the stock experiences profit-taking following a strong 16% year-to-date surge.
- Analyst sentiment remains constructive with a consensus "Strong Buy" rating and a mean target of $197.37.
- The decline reverses gains from the previous session's close of $170.93, following a strong 10.2% surge on January 12.
- Brokerages, including Freedom Capital and Morgan Stanley, have recently lowered price targets citing concerns over slowing e-commerce growth and China's economic headwinds.