Alibaba Likely to Benefit from AI, Cloud Businesses
Dow Jones07-08 15:45
Alibaba Group is likely to benefit from its AI and cloud business, according to Jefferies analysts in a research note. "In cloud computing, Alibaba has clear market leadership as the backbone of digitalization across different industries," the analysts say.
Jefferies expects Alibaba's cloud segment EBITA margin to improve sequentially in the June quarter at 11.5%, higher than market consensus. Jefferies maintains a buy rating on the stock, with a target price of HK$179.00. Shares last traded at HK$107.80.
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