Alibaba’s Shares Climb After Bullish Analyst Calls on AI, Cloud

Shares of Alibaba Group Holding Ltd., the top performer among Chinese tech names in Hong Kong this month, rallied as analysts touted improving growth prospects for the company’s cloud and artificial intelligence businesses.

Morningstar Inc. boosted by 49% the fair value for Alibaba’s American Depositary Receipts and its Hong Kong-listed stock to $267 and HK$260, respectively. Morgan Stanley raised its price target for the ADRs by 21% to $200.