Benchmark analyst Fawne Jiang raised the firm’s price target on Alibaba (BABA) to $195 from $176 and keeps a Buy rating on the shares. Alibaba missed fiscal Q1 headline consensus, which the firm attributes largely due to some revenue estimates that didn’t fully factor in asset divestitures and a sharp uptick in investment toward Quick Commerce, but the firm believes fundamentals are “clearly strengthening across its cloud and e-commerce segments,” the analyst tells investors. The Cloud unit results reinforce Alibaba’s position as “China’s leading GenAI and cloud infrastructure provider,” the analyst argues.
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