JPMorgan raises Alibaba's target price by 45% to HK$240, boosted by AI and cloud

JPMorgan Chase raises Alibaba's price target by 45% to HK$240, boosted by AI and cloud, as Alibaba shares surge 53% in September, boosting investor confidence.

On October 2, 2025, at 10:14 AM, Bloomberg News reported that JPMorgan Chase & Co. raised its price target for Alibaba Group Holding Ltd., a Hong Kong-listed company, by nearly 45%, making it the highest price target among all analysts Bloomberg tracks.

A new target price of HK$240 per share, or around US$31, is set for the end of 2569, representing a 36% increase from Tuesday's closing price. Analysts led by Alex Yao stated that Alibaba's valuation at 12 times its 2571 fiscal year earnings estimate still has significant room for growth, citing improved revenue prospects in its cloud business and the synergy between AI and e-commerce.

Hong Kong-listed Alibaba shares surged 53% in September, outperforming the Hang Seng Index, as investor confidence surged after the company announced plans to increase its AI spending beyond its previous target of more than $53,000 billion and a new partnership with Nvidia Corp.

“Alibaba is well-positioned to participate throughout the value chain, encompassing computing, platforms, and applications, while directly enhancing the operational economics of merchants on its platform,” Yao said. The report indicates that investors should look beyond the negative impacts of fierce price competition in food delivery and quick commerce businesses by 2570.

This price target increase comes from the same team that in March 2565 declared some Chinese internet stocks “uninvestable,” a decision that was later explained as an editorial error.

Reference: www.bloomberg.com

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