Lates News

Alibaba (BABA.US) rose more than 2% to $166.5 in US stocks. According to Citigroup analysts in a research report, 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 season for travel, which is expected to guide users to stores or restaurants for consumption/dining." In addition, investors are also closely watching the Alibaba Cloud conference Cloud Summit later this week, which may have a positive impact on Alibaba. Citigroup rates Alibaba as a "buy" with a target price of $187 for its American Depositary Receipts.