Alibaba Stock Looks Like It's Heading Toward a Recovery. Here's Why.
Once a bedrock of China's technology industry, (NYSE: BABA) has faced a series of setbacks over the past few years, including a massive slowdown in growth and a crackdown by the Chinese government.
Alibaba recently reported a solid quarter, with revenue improving by 14% year over year, the best performance since the September 2021 quarter. While it's still early days, there are signs that Alibaba is progressing well with its turnaround plan to get the company back into its positive trajectory.
Let's look at a few of those indicators.
Source Fool.com
Alibaba Group Holding Ltd ADR Stock
€73.20
1.950%
With 46 Buy predictions and 3 Sell predictions Alibaba Group Holding Ltd ADR is one of the favorites of our community.
As a result the target price of 105 € shows a positive potential of 43.44% compared to the current price of 73.2 € for Alibaba Group Holding Ltd ADR.
