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<Research>BOCI Elevates Alibaba Group Holding (BABA.US) TP to US$170, Rating Buy
Recommend 20 Positive 37 Negative 9 |
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BABA-W (09988.HK)(BABA.US) reported a 2% YoY increase in revenue for the first fiscal quarter ended June, missing expectation, BOCI released a research report saying. Core China CMR grew by 10% YoY, while cloud services revenue increased by 26% YoY, leaving a strong impression on the market. The YoY decline in profit reflected significant upfront investments in quick commerce. Therefore, the broker elevated its target price for BABA-W's US stock from US$150 to US$170, with rating reiterated at Buy. AASTOCKS Financial News Website: www.aastocks.com |
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