Over the mid term, Alibaba’s (BABA) share price has had a habit of moving in step with earnings revisions but during the past 3 months, this relationship has weakened. During the period, Alibaba’s forecast for adj EPS in FY2024 has been cut by 4%, yet the share price has dropped by 34%. Moving forward, how can this be corrected? J.P. Morgan’s Alex Yao has an idea. The analyst believes “sentiment-driven fund flow is the current key share price driver and revenue recovery is the key determinant of market sentiment.” That is a bit of problem, then.
https://www.tipranks.com/news/article/alibaba-stock-attractive-valuation-despite-mid-term-headwinds?utm_source=advfn.com&utm_medium=referral
Alibaba (NYSE:BABA)
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