Alibaba stock receives a positive rating from leading financial institutions: BofA Securities confirms the buy rating, raising the target price from $137 to $142. This underlines the growing confidence in the company. Similarly, HSBC evaluates the share positively and increases the target price from $131 to $142. These adjustments reflect an optimistic view on the future development. DZ Bank joins in by raising its rating from Neutral to Buy – another sign of the general positive consensus on Alibaba’s prospects.
U.S.-China tensions: Biden signs decree on control
Among intensified tensions between the U.S. and China, President Joe Biden has passed a decree authorizing the U.S. Treasury Department to prohibit or restrict American investments in selected Chinese technology sectors. These sectors include semiconductors, microelectronics, quantum information technologies (QIT) and specific Artificial Intelligence systems. The measure is aimed at preventing U.S. investment from supporting China’s military progress. The tangible effects are expected from 2024. While the Democratic majority welcomes the decision, Republicans express criticism and find loopholes in the decree.
Market Reactions: Alibaba stock stands its ground despite geopolitical uncertainties
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Despite geopolitical uncertainties and the new U.S. directive, Alibaba stock remains resilient in the market. Experts highlight that positive valuations and increasing confidence of financial institutions in Alibaba’s future prospects are key contributors to its stability. While developments in the U.S.-China relationship are being closely monitored, the continued steadfastness of Alibaba shares show the company’s resilience to external influences.
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