Jefferies raised the firm’s price target on Alibaba (BABA) to $178 from $165 and keeps a Buy rating on the shares. Based on recent developments and industry trends, the firm expects Alibaba to demonstrate strong execution in cloud and its one-stop consumption platform, the analyst tells investors. For Alibaba Cloud specifically, the firm expects AI-related revenue to maintain rapid growth with rising external revenue contribution, the analyst noted.
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:
- Ant Digital unit linking $8.4B energy assets to blockchain, Bloomberg reports
- Alibaba (BABA) Sparks AI Battle in China’s Lifestyle Market with its ‘Amap’ App
- Meta Just Exposed a Major AI Testing Flaw. Are the Top Models Cheating?
- Alibaba Stock Forecast: AI Analyst Backs Bullish Case for BABA
- IKEA Expands Into Best Buy Stores to Speed Up U.S. Market Reach