Why Alibaba Stock Slipped on Monday
A lively stock over the past year, Alibaba (NYSE: BABA) was sluggish on the stock exchange Monday. The Chinese tech giant's shares took a more than 2% hit on the day following an analyst's lowering of his price target on the stock.
That analyst was Eddie Leung at Bank of America. In a new research note, he trimmed his target to $203 per share from the previous $209. He's still bullish on the stock, however, as he's maintaining his buy recommendation.
Image source: Getty Images.
Source Fool.com