In a report released today, Alicia Yap from Citi maintained a Buy rating on Alibaba (BABA – Research Report), with a price target of $169.00.
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Alicia Yap’s rating is based on Alibaba’s strategic focus on integrating artificial intelligence across its operations, which is expected to drive growth in the coming years. The company’s commitment to AI is evident in its plans to enhance its e-commerce ecosystem and cloud computing services, positioning itself as a leader in these areas.
Alibaba’s emphasis on AI is not limited to improving current services but also aims to create new user entry points and business opportunities. The company’s significant investment in AI research and development, particularly in large language models and computing infrastructure, further supports its growth potential. This strategic direction, combined with the anticipated performance in key financial metrics, underpins the Buy rating with a target price of US$169/HK$165.