Alibaba Group's stock saw a notable rise on January 8, 2023, as market analysts adjusted their forecasts, reflecting a mix of caution and optimism among investors. The publication provides the following information: this shift in sentiment is attributed to various factors influencing the tech sector.
Alibaba Shares Surge Despite Price Target Reductions
Shares of Alibaba closed at 154.47, marking an increase of 7.72 or 5.26%. This surge came despite Morgan Stanley and Jefferies lowering their price targets for the company, indicating a nuanced outlook on its performance.
Analysts Maintain Buy Ratings
Both firms, however, retained their Buy-equivalent ratings, suggesting that they still believe in Alibaba's potential for long-term growth. This confidence persists even amid ongoing concerns regarding weak consumption trends in China and the pressures facing its core e-commerce operations.
On January 8, 2026, Walmart announced the appointment of AI expert Shishir Mehrotra to its Board of Directors, a move that contrasts with Alibaba's recent stock surge amid cautious market sentiment. For more details, see Walmart's appointment.
