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<Research>CMBI Raises Alibaba (BABA.US) TP to USD220.1; Strong Cloud Biz Outlook
Recommend 27 Positive 44 Negative 12 |
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CMBI issued a report on BABA-W (09988.HK), which has a strong development outlook for its cloud business. In 4FQ, revenue came in at RMB243.4 billion, up 3% YoY, 1% below market expectations but 0.4% above the broker's forecast. Adjusted EBITA for the quarter was RMB5.1 billion, down 84% YoY, in wake of investments in technology businesses, quick commerce and user experience, but 7% above the broker's forecast. For FY26, total revenue grew 3% YoY, while adjusted EBITA declined 56% YoY. The cloud business remained a highlight, with revenue YoY growth accelerating from 36% in 3FQ to 38% in 4FQ. The broker stayed upbeat on Alibaba (BABA.US) as one of the key beneficiaries of the AI theme among its coverage. Supported by strong demand, the broker expected further acceleration in cloud revenue growth, particularly with scaling of MaaS-related services, and spotted margin expansion potential. This was expected to help drive a re-rating of Alibaba. CMBI raised its US stock TP for Alibaba (BABA.US) to USD220.1 from USD206.1 and maintained a Buy rating. Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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