Analysts at Citigroup have slashed their target price on Alibaba stock—but they still see the Chinese tech giant as attractive for investors.
That’s largely due to valuation. After all, shares in Alibaba (ticker: BABA) lost almost 50% of their value in 2021 amid intensifying regulatory pressures and concerns around slowing growth. At this point, Citi analyst Alice Yap said in a report circulated Monday, the current price is “an attractive entry for investors establishing new positions.”
That…