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Why Analysts See Alibaba (BABA) as a Global Super Cloud Platform

Alibaba Group Holding Limited (NYSE:BABA) is one of the AI Stocks Every Investor Should Watch. On September 24, Citi analyst Alicia Yap raised the price target on the stock to 217.00(from217.00 (from 187.00) while maintaining a Buy rating. The rating affirmation comes after Alibaba Cloud hosted its annual event Apsara Conference. Citi’s call follows higher cloud revenue and capex assumptions supported by strong interest at the Apsara Conference and Alibaba’s intentions to increase its data center capacity in respo ...