Dahua Jixian: Raises target price of BABA-W (09988) to HKD 190, reiterates "buy" rating.

Dahua Jixian released a research report stating that after the briefing on the performance of Alibaba-W (09988) in the first quarter ending in June, their outlook on Alibaba has become more positive. The core information is that local e-commerce and cloud business have performed better than expected, the competitive landscape continues to ease, supporting improvements in profitability. In addition to short-term profitability, Alibaba is expanding its AI ecosystem through data centers, AI enabling Alipay, a chat bot called Qianwen, and cooperation with the leading AI laboratory in Bailing, to expand the AI ecosystem. They maintain a "buy" rating, with an H-share target price raised from the original 188 Hong Kong dollars to 190 Hong Kong dollars, and the Alibaba (BABA.US) stock target price increased to $194.