Citibank: Reiterates Buy Rating on Alibaba, Target Price $192

In a report, Citibank analyst Alicia Yap and others stated that Alibaba's recent strong stock performance may reflect positive expectations for the revenue growth trends of Amazon AWS and Microsoft Azure cloud businesses, as well as a significant increase in the Qianwen 3.8-Max benchmark score. Companies like Alibaba, which possess end-to-end capabilities from chips and cloud infrastructure to models and applications, are better positioned to lead. The buy rating for the company is reiterated, with a target price of $192.