Barclays Turns More Bullish on Alibaba (BABA) as Cloud Business Expands

Alibaba Group Holding Limited (NYSE:BABA) is one of the Hot AI Stocks to Keep on Your RadarOn 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.

While we acknowledge the risk and potential of BABA as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than BABA and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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