UBS raised the firm’s price target on Alibaba (BABA) to $162 from $158 and keeps a Buy rating on the shares. The company’s inline fiscal Q1 report addressed several key investor concerns as quick commerce investments bought synergies and artificial intelligence cloud growth was strong, the analyst tells investors in a research note. The firm sees a positive outlook for Alibaba despite its quick commerce investments.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BABA: