Goldman Sachs upgraded Alibaba Group Holding from Buy to Conviction Buy. The firm set a new price target of $186.00. This target represents a nearly 29% upside from the previous price of $144.11.
Anticipated growth in AI and cloud businesses drives the positive outlook. Goldman Sachs projects a significant recovery in earnings per share during fiscal years 2027 and 2028.
Analysts forecast strong revenue growth for Alibaba Cloud in late 2025 and early 2026. High demand for AI technology supports these revenue projections. Alibaba is currently unifying its various AI model brands under the name Qwen to consolidate its market position.