StoneX analyst Fawne Jiang reiterated a Buy rating and $220.00 price target on Alibaba (NYSE: BABA).

The analyst commented, "Near-term datapoints limited, but the full-stack AI flywheel is strengthening. While we understand the market was looking for more near-term financial datapoints from Apsara (Sept. 22–24), particularly an updated CapEx outlook and incremental AI/MaaS ARR disclosure, the lack thereof likely contributed to a muted stock reaction. That said, we believe the more important takeaway is the continued strengthening of Alibaba’s full-stack AI flywheel."

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Shares of Alibaba closed at $110.63 yesterday.