Citigroup: Alibaba's stock price may be supported by multiple factors, giving a "buy" rating.

Citigroup analysts pointed out in a research report that Alibaba's recent stock price may be supported by multiple factors. They stated that Alibaba's recent in-store group buying promotion "coincides with the upcoming peak travel season, which is expected to drive users to visit stores or restaurants for consumption/dining." In addition, investors are also closely watching Alibaba Cloud's Yunqi Conference later this week, which may have a positive impact on Alibaba. Citigroup has a "buy" rating on Alibaba with a target price of $187 for its American depositary receipts.