On October 9, Alibaba rose 3.04% in pre-market trading, trading at $108.81 per share, with turnover of $0.5583 million.
The move was driven by a combination of accelerating cloud revenue and bullish analyst actions. Jefferies raised its target price to HK$186 while maintaining a Buy rating, and CICC reiterated an Outperform rating while lifting fiscal 2027 and 2028 earnings estimates.
Alibaba's latest guidance indicates cloud quarterly revenue growth exceeding 50%, with cloud profit margin improving sequentially to over 12%. E-commerce core profit also beat expectations, further strengthening market sentiment toward the stock.
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