On July 10, Alibaba-W rose 3.06% in regular trading, trading at 110.5 HKD/share with turnover of 17.14 billion HKD, extending its strong momentum following a surge of over 12% earlier this week.
On the news front, multiple institutions including UBS, Nomura, and Daiwa Capital Markets collectively raised Alibaba's target price to the 178-190 USD/HKD range, all maintaining \"Buy\" ratings. UBS forecasts Alibaba's first fiscal quarter cloud business revenue growth accelerating to 45% year-over-year, driven by surging AI demand. CICC expects overall profit to exceed consensus estimates, with the instant retail segment narrowing losses faster than market expectations.
Additionally, the company disclosed that it repurchased and cancelled approximately 29.79 million shares, representing about 0.16% of issued share capital, continuing to signal value to the market. Reports also indicate Chinese officials have communicated to Alibaba that it may be permitted to procure certain Nvidia H200 chips, potentially providing critical computing power support for AI initiatives.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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