Goldman Sachs Raises Alibaba Price Target to 180 HKD on AI Agent Strategy, Maintains Buy Rating

According to Goldman Sachs, on May 21, Alibaba's cloud summit and CEO letter signaled the company's major investment phase in AI agents. The bank noted that a portfolio of AI agent products can support Alibaba's MaaS (Model as a Service) annual recurring revenue (ARR) targets of 10 billion yuan by June quarter and 30 billion yuan by end of fiscal year 2027. Goldman Sachs maintains a buy rating on Alibaba (09988.HK), placing it on its Asia-Pacific conviction buy list with a 12-month price target of 180 Hong Kong dollars.
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