Analyst Joyce Ju of Bank of America Securities reiterated a Buy rating on Alibaba, boosting the price target to $195.00.
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Joyce Ju has given her Buy rating due to a combination of factors that highlight Alibaba’s strategic positioning and growth potential. The company is making significant investments in AI and cloud computing, exceeding its initial capital expenditure plans, to capitalize on the emerging era of Artificial Superintelligence. Alibaba aims to establish itself as a leading provider of comprehensive AI services, offering advanced models and a global AI cloud network.
Additionally, Alibaba’s recent upgrades to its AI models and infrastructure, including the introduction of its most advanced large language model and enhancements in AI infrastructure, demonstrate its commitment to innovation. The company sees substantial opportunities in cloud services driven by increasing AI adoption across various industries, which is expected to drive significant revenue growth. Consequently, Joyce Ju has raised the price objective for Alibaba’s stock to $195, reflecting a positive outlook on its future performance.
In another report released on September 22, Citi also maintained a Buy rating on the stock with a $187.00 price target.