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Citibank: Lists Alibaba as China's top AI investment stock, with a target price of HKD 204.
Golden Finance reports that on May 12th, Citibank published a research report stating that Alibaba Cloud, a subsidiary of Alibaba, has a vertically integrated full-stack artificial intelligence capability, including chip division Pingtouge, Infrastructure as a Service (IaaS), Platform as a Service (PaaS), and Model as a Service (MaaS). Coupled with its continuous progress in the Tongyi Qianwen large language model (LLM) and the Model-Scope platform, the company is well-positioned in the rapidly growing token economy, making it the top choice for Chinese AI investments.
Citibank reaffirmed its “Buy” rating for Alibaba, with a target price of HKD 204 in Hong Kong stocks and USD 205 for ADRs, believing that the company’s continuously improving full-stack AI capabilities can generate cost synergy effects and profit expansion potential. The bank expects that Alibaba Cloud’s AI-related revenue will achieve a compound annual growth rate of 90% from fiscal years 2026 to 2031, accounting for 70% of the total cloud business revenue by fiscal year 2031.