UBS analyst Jerry Liu wrote Tuesday that Alibaba Group Holding Ltd. BABA, +2.75% investors appear “still bullish but slightly less so,” based on his firm’s recent survey of Wall Street sentiment. Liu found that investors are still most focused on the growth of Alibaba’s Taobao and Tmall marketplaces, though they’re also interested in total earnings growth and total revenue growth. “In contrast, long-term investment losses was the least important issue, as respondents show increasing confidence that Alibaba will narrow the losses for many of its recent key investment areas in FY20,” Liu wrote. He maintained a buy rating and $210 price target on the shares, which are up 3.6% in Tuesday morning trading and 21% so far this year. The S&P 500 SPX, +0.24% has risen 16% on the year.