Financial confidence in Alibaba increased after Arete upgraded BABA stock to 'Buy' from 'Neutral', driven by growing analyst confidence that AI will power the company’s next leg of growth.
- The firm set a bullish price target of $190 for the stock.
- The positive outlook is reinforced by Alibaba's ecosystem-wide integration of its Qwen AI app.
- Alibaba-backed startup, Moonshot AI, recently achieved a significant $4.8 billion valuation in a fresh funding round.