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Analyst initiates Alibaba stock with a Street-high price target
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Analyst initiates Alibaba stock with a Street-high price target
Alibaba (NYSE: BABA) received renewed support on Wednesday, April 29, when BNP Paribas initiated coverage on the stock with an “Outperform” rating and a price target of $209. The new target, which suggests an upside potential of roughly 58%, was built on the thesis that Alibaba’s cloud revenue growth could accelerate as the company improves monetization in artificial intelligence (AI). More specifically, AI-related capital expenditures are exp…
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