Analyst Sees 20% Upside For Alibaba On AI Breakthrough And Positive Outlook: BABA Stock Pops Over 4% In Wednesday Pre-Market

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Analyst Sees 20% Upside For Alibaba On AI Breakthrough And Positive Outlook: BABA Stock Pops Over 4% In Wednesday Pre-Market - Benzinga

Quick Summary:

What Happened: Bernstein, a prominent investment management firm, has upgraded Alibaba’s stock from ‘market perform’ to ‘Outperform’ and raised its price target by $61 to $165, CNBC reported on Wednesday.

Shares of Alibaba Group Holding Ltd. (NYSE:BABA) climbed 4.3% during the pre-market trading session on Wednesday following the launch of its video-generation AI Model today.

The analyst also anticipates that Alibaba’s earnings will trend upward, driven by more efficient capital allocation, a stronger AI industry ...