Latest Search
Quote
| Back Zoom + Zoom - | ||||
|
<Research>JPM: BABA-W (09988.HK) Technical Catalyst Emerges; Rating Overweight
Recommend 58 Positive 84 Negative 24 |
||||
|
||||
|
JP Morgan's report said that BABA-W (09988.HK) formally joined the Southbound Stock Connect on Tuesday (10th), with its share price soaring 4% on the day, vs the HSI's rise of 0.2% over the same period. It notched a capital inflow of $8.4 billion, accounting for 90% of the day's total southbound inflow, while its turnover tripled to $16.9 billion, accounting for 15% of the day's total Hong Kong stock turnover of $107 billion. Although the broker expected the full impact of BABA-W's inclusion in the Southbound Stock Connect and the southbound capital inflow to take a few months to materialize, it believed that BABA-W's fundamental development of e-commerce in China will be a key share price driver for the company in the next 6-12 months. In addition, the broker expected Taobao and Tmall's traffic, GMV and monetization to continue to improve in the coming quarters, with technical catalyst emerging. It maintained an Overweight rating on the stock, with a target price of $106. AAStocks Financial News |
||||
Copied to Clipboard
 |
||||
