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<Research>BofAS Elevates BABA-W (09988.HK) TP to $114, Forecasts 4Q24 Adj. NP to Slightly Beat Forecast
Recommend 31 Positive 62 Negative 17 |
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BofA Securities issued a research report expecting that BABA-W (09988.HK) will release its 3FQ25 quarterly results in mid-late February, and estimating that its revenue will grow 9% YoY to RMB283.5 billion, 2% higher than the market consensus, with the core Taobao Tmall Group (TTG) revenue rising 7% YoY. The broker forecasted BABA-Ws overall adjusted EBITA to be RMB54.4 billion, up 3% YoY, mainly attributable to the reduction in non-core losses, and adjusted net profit to be RMB47.4 billion, slightly ahead of the market consensus. Therefore, BofA Securities raised its FY2025-FY2027 adjusted net profit forecasts for BABA-W by 4-7%, and elevated its target price from $109 to $114, with rating kept at Buy. AAStocks Financial News |
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