Mizuho analyst Wei Fang raised the firm’s price target on Alibaba (BABA) to $195 from $190 and keeps an Outperform rating on the shares. The company’s quarter missed on EBITA due to increased token demand and higher costs, which should drive downward estimates revisions in consensus, the analyst tells investors in a research note. However, Mizuho believes Alibaba’s strong AI cloud trend will help support a re-rating of the shares.
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