Mizuho raised the firm’s price target on Alibaba (BABA) to $195 from $159 and keeps an Outperform rating on the shares. The firm’s channel checks indicate strong summer quarter delivery order growth relative to Q2 driven by increased incentives. Alibaba should gain additional share in the banking sector through its full-tack artificial intelligence offerings and open source strategy, files to sell common stock, no amount given
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:
- Leju Robotics Secures $200 Million as China’s Robot Race Heats Up Ahead of IPO
- Midday Fly By: GM, Coca-Cola report Q3 beats
- Mixed options sentiment in Alibaba with shares down 3.09%
- Alibaba Cloud claims pooling system to slash Nvidia GPU use by 82%, SCMP reports
- Bullish flow in Alibaba with shares up 4.15%