JPMorgan analyst Alex Yao cut Alibaba's price target to $200 from $210 on Oct. 12, while keeping an Overweight rating. The target concerns Alibaba's New York Stock Exchange listing; Alibaba identifies the security traded under BABA as an American depositary share (ADS). EconoTimes previously covered Yao's target reduction.
Binance's BABAUSDT perpetual futures contract follows the price of the NYSE-listed security, according to the exchange's notice. Trading began at 9:50 a.m. ET (13:50 UTC) on April 20, Binance said. It is settled in Tether USDt (USDT).
Binance began trading BABAB, a tokenized security distinct from the futures contract, on July 15. Holding BABAB does not confer direct ownership of Alibaba shares, and Binance excludes U.S. persons from trading it. The exchange said its listings expand trading choices for eligible users.
