Alibaba (BABA) stock forecast for 2023
Wall Street analyst firms have a positive outlook for Alibaba (BABA) shares in 2023. The average target price is $140.82 on the horizon of the year, that is, the forecast should be fulfilled by November 2023. The upside potential from the current price (as of November 22, 2022, Alibaba shares are traded at $75.23) is 87.45%. Most analysts have assigned a Buy rating to Alibaba shares.
Alibaba (BABA) Stock Growth Drivers in 2023
No. 1. Easing coronavirus restrictions in China. The Chinese government will ease the coronavirus policy, which is now putting negative pressure on China's technology companies. Analysts believe that the easing of covid restrictions should be expected by the spring of 2023.
No. 2. Change of listing of Alibaba in Hong Kong. The company plans to become part of the "Hong Kong Stock Connect" system, that is, Alibaba shares will be available to Chinese investors from mainland China. Analysts believe that investors from mainland China will want to buy Alibaba shares in their portfolio, which will positively affect the growth of quotations.
Forecast for Alibaba (BABA) shares for 12 months, by November 2023
Exchange Ticker = BABA
Alibaba stock price on November 22, 2022 = $75,23
Upside potential over the next 12 months according to analysts = 87,45%.
Target price in a year, by November 2023 = $140,82
Forecast (growth potential)