Latest Search
Quote
| Back Zoom + Zoom - | ||||
|
<Research>CMBI Lifts Alibaba (BABA.US) TP to USD158.8; Solid Start to New Fiscal Year
Recommend 21 Positive 32 Negative 14 |
||||
|
||||
|
CMB International's research report indicated that BABA-W (09988.HK) reported revenue of RMB247.7 billion for the first fiscal quarter ending March 31, 2026, marking a YoY growth of 1.8%, which was 2% below the market consensus. The broker forecast that intense competition in quick commerce, particularly in the food delivery category, may persist until 2QFY26, but competition was expected to de-fuse after the peak in 4Q. CMB International raised Alibaba's (BABA.US) target price to USD158.8 from the previous target of USD141.2, factoring in a more optimistic business development outlook for Alibaba China E-commerce Group (ACEG) and an improved valuation for the Cloud Intelligence Group (CIG) due to better revenue growth prospects. The rating was Buy. CMB International's revenue forecast for 2026 remained largely intact. Yet the broker raised Alibaba's revenue forecasts for 2027 and 2028 by 1% and 3%, respectively, reflecting better-than-expected revenue growth prospects for ACEG and CIG. This also led the broker to increase its non-GAAP net profit forecasts for 2027-28 by 2% each. AASTOCKS Financial News Website: www.aastocks.com |
||||
Copied to Clipboard
 |
||||
