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Summary of Latest Ratings, TPs, Views on BABA-W (09988.HK)(BABA.US)
Recommend 22 Positive 37 Negative 15 |
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AASTOCKS Financial News has compiled the latest investment ratings and target prices for BABA-W (09988.HK)(BABA.US) from 10 brokers. The views are summarized below in descending order of TPs: Brokers | Ratings | TPs | Core Views CMBI | Buy | USD206.1 -> 220.1 | Strong development prospects for cloud business Citi | Buy | HKD204 -> 207 / USD205 -> 208 | AI-related cloud revenue recorded triple-digit growth for 11 consecutive quarters. MaaS ARR reached RMB8 billion. Although short-term AI technology investment drags on profit, it is a strategy to capture immense opportunities. Core businesses maintain strong cash flow. As the contribution from high-margin MaaS increases, cloud business margins are expected to improve notably. JP Morgan | Overweight | HKD195 / USD200 | Non-GAAP net profit and FCF in the latest fiscal quarter were weak, likely prompting lower forecast adjustment by market. Operational disclosure showed divergence: external cloud computing revenue growth accelerated to 40%, but adjusted EBITA losses in the "Others" segment doubled. Nomura | Buy | USD200 | Latest fiscal quarter results were dented by substantial marketing spending on Qianwen AI during the Lunar New Year period, leading to a plunge in adjusted EBITA. Quick commerce was also a major drag. Excluding the impact of accounting policy changes, TTG CMR grew 8%. If China e-commerce profit remains stable going forward, market sentiment may turn more upbeat. CLSA | Outperform | USD190 | Latest fiscal quarter results met expectations, with total revenue up 2.9%. Cloud computing is entering a phase of rapid growth, and AI has moved into commercialization. BOCI | Buy | HKD182 / USD187 | Steady and high-quality scaled commercialization is driving sustainable earnings growth in the cloud business. Goldman Sachs | Buy | HKD180 / USD186 | Cloud computing growth is accelerating and MaaS provides upside for margins. AI-related products are expected to increase their share of external cloud revenue from 30% in the latest fiscal quarter to over 50% within one year. A strong net cash balance sheet supports higher capex. Quick commerce is expected to achieve a profit turnaround in FY2027-29. HSBC Research | Buy | USD172 -> 180 | Accelerating MaaS revenue, GPU leasing and public cloud cross-selling support strong cloud growth. Rising CPU prices, revenue mix shift toward higher-margin MaaS, and deployment of self-developed T-Head chips to enhance inference efficiency will drive notable short-term improvement in cloud margins. Losses in the food delivery business are expected to continue narrowing. Morgan Stanley | Overweight | USD180 | 4FQ revenue and EBITA were in line UBS | Buy | HKD166 -> 179 / USD170 -> 184 | 4FQ results met expectations. AI-related revenue accelerated cloud computing growth. High-margin MaaS and deployment of self-developed chips are expected to support margin expansion. Although e-commerce investment and contra-revenue subsidies weighed on TTG CMR in the short term, quick commerce losses will narrow more significantly. 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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