There’s a new sport on Wall Street called “lowering the estimates for Alibaba (BABA).” Anyone can participate and it looks like everyone is in. Following in the footsteps of, well, everyone, Raymond James’ Aaron Kessler is not about to miss out on the activity. Due to slowing China eCommerce growth in the December quarter and “likely continued softer near-term environment given the slowing real estate market, continued pandemic headwinds, and supply chain issues,” Kessler has, you guessed it, lowered his estimates for the ecommerce giant. Accordingly, for 3Q22 (December quarter), Kessler has reduced his revenue forecast by 5.
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