
Alibaba Group (NYSE:BABA) Shares Up 3.5% on Analyst Upgrade

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Alibaba Group's shares rose 3.5% to $129.92 after Argus upgraded the stock to a hold rating. The trading volume increased slightly, with 12.7 million shares exchanged. Analysts have mixed views, with Barclays lowering its price target to $190 and Arete Research upgrading to a buy rating at the same target. The stock has a consensus rating of "Moderate Buy" and a target price of $188.95. Despite positive sentiment around Alibaba's new AI chip, concerns about near-term fundamentals and regulatory risks persist.
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