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Alibaba Shares Surge Following Analyst Upgrades
On Monday, shares of Alibaba (NYSE: BABA) rose by 4.4%, following significant price target increases from Morgan Stanley and Jefferies. Morgan Stanley raised its target from $165 to $200, while Jefferies increased theirs from $178 to $230, driven by expected growth in Alibaba’s cloud computing revenue, projected to increase by 32% in fiscal 2026 and 40% in 2027.
Last week, Alibaba held a cloud computing conference and announced plans to increase its three-year cloud spending target beyond the previous estimate of $53 billion. This comes as the company has experienced a 113% rally in stock value this year, largely attributed to AI-driven demand and a more favorable regulatory environment in China.
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