Alibaba Likely to See Cloud Business Growth Momentum Continue -- Market Talk

Dow Jones

06-02

0843 GMT - Growth momentum in Alibaba Group's cloud business is likely to continue, according to Citi analysts in a research note. There is strong customer demand for its cloud products, especially from inference demand after the DeepSeek moment, Citi analysts say, citing Alibaba's comment on Citi's recent Pan-Asia conference in Singapore. The analysts remain positive on demand for Alibaba's cloud product, and forecast cloud revenues to accelerate to 21% and 20% from a year earlier in fiscal 1Q and FY2026, respectively. Citi keeps a buy rating and a target price of US$169.00 for its ADRs. Its ADRs were last traded at US$113.84. (tracy.qu@wsj.com)

(END) Dow Jones Newswires

June 02, 2025 04:43 ET (08:43 GMT)

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