JPMorgan has substantially lifted its target price for Alibaba's Hong Kong - listed stocks to HK$240. The investment bank holds the view that the expansion of Alibaba's cloud computing and e - commerce sectors will underpin a more favorable valuation. In their research report, analysts like Alex Yao pointed out that Alibaba Cloud has witnessed an accelerated revenue growth rate for eight successive quarters. In the second quarter of 2025, its revenue surged by 26% year - on - year. This growth is mainly propelled by the demand for generative AI in fields such as the internet, autonomous driving, and embodied intelligence. Looking ahead, it is anticipated that within the next 12 to 36 months, generative AI will evolve from a tool - trial stage to agent automation. This transformation will encompass areas like marketing, services, coding, financial operations, and supply chains. As a result, service costs are projected to decrease steadily, while conversion rates and throughput in customer - facing channels will experience a substantial improvement.