From Nasdaq:

Alibaba stock didn’t have a great 2023, but that could change in 2024 as the much-maligned stock looks like a deep-value play. After its significant decline, Alibaba stock now trades at just 8.4 times earnings, representing a steep discount to the broader market indices. Target price suggests 72.5% upside potential.

The underperformance and fall in share price have been steep, but the sell-off seems overdone. It’s now back to where it was following its 2014 IPO, despite having higher earnings and revenue. Plus, Alibaba hired a new CEO, restructured the company, and initiated a dividend payout, making it an attractive stock to buy for investors.

Wall Street analysts, as well as TipRanks’ Smart Score system, view the stock favorably. The Smart Score is a proprietary score that grades stocks from 1 to 10 based on key market factors. Alibaba boasts an Outperform-equivalent Smart Score of 8, indicating significant upside potential. The company could be a surprise winner in 2024.



Read more: Can the Much-Maligned Alibaba Stock (NYSE:BABA) Bounce Back in 2024?