Jack Ma is praising Alibaba. Wall Street is more cautious

Alibaba shares got a boost last week from news founder Jack Ma is pleased with the company’s turnaround so far. That’s after co-founder and current Chair Joe Tsai told CNBC in late February he felt a lot more “confident” about Alibaba’s ability to still be a top e-commerce player. Ma stepped down as chairman in 2019 . Wall Street analysts expect business will grow, but last week several trimmed their price targets on the stock. Their shared concern is how much Alibaba is spending in the near term for future growth. JPMorgan lowered its earnings forecasts based on “Alibaba’s increasing…