Alibaba Stock Jumped 11%, Yet Wall Street Cut Its Price Targets

Alibaba stock (NYSE: BABA) jumped about 11% on July 8 to nearly $109, its best single day in 10 months. The pop followed a pre-earnings update showing its cash-losing delivery business improving and profits holding steady. Yet even as buyers rushed in, several big banks quietly trimmed their price targets. Why Alibaba Stock Suddenly Popped The post Alibaba Stock Jumped 11%, Yet Wall Street Cut Its