0924 GMT - Alibaba is to well-positioned to benefit from structural growth in AI computing and applications, OCBC analysts write in a note. The company's latest quarterly results came in with a clean beat and remains the bank's preferred play to get exposure to a broadening and acceleration in AI adoption in China, they say. Alibaba is China's largest cloud hyperscaler, and also ranks first in Asia and fourth worldwide as a cloud service provider, which may have stronger growth potential with AI, they say. The bank lifts its fair value estimate on the stock to $164.50 from $123.40, supported by earnings growth and stronger cloud valuation. The ADRs last closed at $135.97. (jiahui.huang@wsj.com; @ivy_jiahuihuang)
(END) Dow Jones Newswires
February 21, 2025 04:24 ET (09:24 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.