Alibaba's shares could snap a three-day losing streak, with U.S.-listed shares rising 0.3% in early premarket trading on Wednesday, following Deutsche Bank's price target raise and bullish commentary on the company's cloud unit.

AliCloud is poised to evolve into a super AI cloud player, supported by its global footprint, strong financials, and competitive full-stack AI capabilities across models, infrastructure, chips, and software, the investment research firm said in a note.

It raised its price target on the stock to $225 from $176 and for Alibaba's Hong Kong shares to HK$220 from HK$172, while maintaining a 'Buy' rating on the stock.

After more than doubling so far this year, Alibaba's stock has marianally corrected recently. BABA is down 4.2% in the last three sessions.

On Stocktwits, the retail sentiment for the stock was 'bearish,' unchanged over the last week, although there were some positive comments.

"Glad to see some consolidation. Gearing up for the run to $200 next," said one user.

Alibaba's incredible rally this year, driven by optimism around its AI development and gains in its cloud and chip businesses, has brought the spotlight back to Chinese tech stocks.

Year-to-date, the KraneShares CSI China Internet ETF (KWEB) has gained 46%, far outpacing the 13.5% gains in the SPDR S & P 500 ETF Trust (SPY).

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