Erste Group Upgrades Alibaba (BABA) to Buy

Erste Group analyst Hans Engel upgraded Alibaba (NYSE: BABA) from Hold to Buy.

The analyst comments "Alibaba is developing very well in the field of AI applications. The management's focus is on the monetization of AI via cloud services and the development of proprietary AI chips. The e-commerce business and the international segment with cross-border platforms such as AliExpress are also strong. We currently view Alibaba's risk/reward profile as positive. The ongoing share buyback program supports the stock's upward trend."

For an analyst ratings summary and ratings history on Alibaba click here. For more ratings news on Alibaba click here.

Shares of Alibaba closed at $189.34 yesterday.

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