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