Barclays Turns More Bullish on Alibaba as Cloud Business Expands

Alibaba Group Holding Limited (NYSE:BABA) is one of the Hot AI Stocks to Keep on Your Radar. On September 9, Barclays raised the firm’s price target on the stock to $190 from $145 and kept an “Overweight” rating on the shares.

According to the analysts, cloud revenue growth is anticipated to continue to accelerate from 26% year-over-year in the June quarter. It believes that instant commerce losses are set to peak in the September-end quarter.

Alibaba Group Holding Limited (NYSE:BABA) is an internet giant that offers e-commerce services in China and internationally.

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