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JPMorgan cut its stock price target on Alibaba Group (BABA) but maintained a positive long-term view on the China Internet giant. “We reiterate our overweight rating on Alibaba shares as we believe the company’s long-term structural growth opportunities and competitive advantages make Alibaba one of the top global Internet platforms,” wrote JPMorgan analyst Alex Yao in a research report Friday. Yao cut his price target on Alibaba to 109 from 117 Scalper1 News
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