Alibaba Stock Gets A Price Target Boost From BofA – Check Out The Details
Shares of Alibaba jumped nearly 9% after media reports indicated that the company plans to expand its investment in artificial intelligence, compared to its prior expectations and commitments.
Alibaba Group Holding (BABA) shares on Wednesday witnessed a price target hike from Bank of America, with the firm revising its target on the stock to $195 from $168. BofA said it believes the company is positioned as the world’s leading full-stack artificial intelligence services provider.
Shares of Alibaba jumped nearly 9% before the bell on Wednesday, and the stock became the top-trending ticker on Stocktwits after media reports indicated that the company plans to expand its investment in artificial intelligence (AI), surpassing its prior expectations and commitments.
Get updates to this developing story directly on Stocktwits.
For updates and corrections, email newsroom[at]stocktwits[dot]com.
Also See: Why Is MP Materials Stock Rising Today?
High Relative Strength, Low Social Following