With the shift in consumer behavior, BABA-W (09988.HK) -0.700 (-0.615%) Short selling $2.59B; Ratio 15.531% (BABA.US) merged Ele.me and Fliggy into its China e-commerce business group and is enhancing promotional subsidies to drive cross-selling synergies, Citi said in its research report. The broker lowered the target price for Alibaba's H-shares and U.S. shares to HKD144 and USD148, respectively, while maintaining a Buy rating and initiating a 30-day short-term negative view. Related NewsUBS Expects BABA-W (09988.HK) 1FQ Adj. EBITA to Drop 15%, Slashes TP to $154Alibaba's valuation is undemanding, said Citi. Yet, due to potential persistent competition and continued investment spending possibly further impacting its earnings outlook, the short-term stock price may be constrained, unless AI or cloud technology entails a re-rating opportunity. (HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-07-16 16:25.) (Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)