Alibaba rises more than 2% as Citigroup gives it a "buy" rating with a target price of $187.

Alibaba's US stocks rose more than 2% to $166.5. In the news, Citigroup analysts pointed out in a research report that Alibaba's recent stock price may be supported by various factors. They stated that Alibaba's recent in-store group buying promotions "coincide with the upcoming peak travel season, which is expected to drive users to stores or restaurants for consumption/meals." In addition, investors are also closely watching Alibaba Cloud's Yunqi Conference later this week, which may have a positive impact on Alibaba. Citigroup has a "buy" rating on Alibaba with a target price of $187 for its American depositary receipts.