Why These 5 Stocks Are in the Spotlight on Monday

3. Alibaba Group Holding Limited (NYSE:BABA) has fallen 0.75% as of 12:45 PM ET despite a double upgrade from Alex Yao at JP Morgan. The analyst upgraded Alibaba Group Holding Limited (NYSE:BABA) stock from an Underperform to an Overweight rating and increased the target price from $75 to $130. The revised target provides a potential upside of 47.4% from the previous closing price. Yao thinks that the “significant uncertainties” hanging over the Chinese internet stocks have reduced following the recent regulatory announcements. He anticipates digital entertainment, e-commerce, and local service-providing stocks to outperform very soon.

On a sequential basis, the number of hedge funds invested in Alibaba Group Holding Limited (NYSE:BABA) decreased by 19 to 96 hedge funds as of Q4 2021. Fisher Asset Management was the leading hedge fund investor in Alibaba Group Holding Limited (NYSE:BABA) during Q1 2022.