On October 9, Alibaba rose 3.03% Overnight, trading at $108.86/share, with Turnover of $30.70 million.

The move followed a wave of positive broker actions. Jefferies raised its target price to HK$186 and maintained a Buy rating, while CICC kept its Outperform rating and lifted earnings estimates for fiscal 2027 and 2028. The upgrades were catalyzed by Alibaba's latest quarterly guidance, which showed Cloud revenue growth exceeding 50% year over year and cloud profit margin above 12%, with e-commerce core profit also beating expectations.

Alibaba Group Holding Ltd is an investment holding company mainly engaged in the provision of technology infrastructure and marketing platforms. It operates through China e-commerce, international digital commerce, cloud intelligence, and other segments including Freshippo, Cainiao, and Alibaba Health.

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