In Friday stock market trading, Alibaba shares dropped 3.28% to close at $85.88. The general market's woes contributed to this slide, and at this point Alibaba shares are trading well off from its 12 month price targets. $120 is my price target for it, and I do believe within 12 months that we will see this share price. It is on watch, however, for further downward price action that might affect this rating.
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