Alibaba price target raised to $140 from $113 at Mizuho

Mizuho raised the firm’s price target on Alibaba (BABA) to $140 from $113 and keeps an Outperform rating on the shores. The firm says Cloud and AI are a major bright spot with accelerated revenue growth and improved margins. Mizuho is “encouraged” about the improvements in commerce and the promising outlook for Cloud and AI, and says economic and geopolitical concerns are mostly baked in, making valuation compelling.