Baird analyst Colin Sebastian raised the firm’s price target on Alibaba to $88 from $85 and keeps an Outperform rating on the shares. The firm said they remain in transition on multiple fronts;core China commerce is regaining market share with accelerating GMV, while monetization lags, International/cross-border commerce is ramping nicely in large part by leveraging logistics, and Cloud growth is accelerating on the back of public cloud and ramping AI/Gen-AI. As a result Baird believes longer-term investors can be opportunistic ahead of improving growth and profitability.
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