
Alibaba Group (NYSE:BABA) Trading 5.2% Higher After Analyst Upgrade

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Alibaba Group (NYSE:BABA) shares rose 5.2% after Arete Research upgraded the stock from neutral to buy, setting a price target of $190. The stock traded as high as $181.10 and closed at $177.46, with trading volume increasing by 81%. Analysts have generally rated the stock positively, with 18 buy ratings and a consensus price target of $192.72. Positive sentiment is driven by reports of an IPO for Alibaba's AI chip unit, T-Head, and a joint venture with a state nuclear developer to secure energy for AI operations.
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