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<Research>Haitong Int'l Adjusts Alibaba's TP to US$130, Lowers 3Q Adj. EBITA Forecast to RMB40.5B
Recommend 31 Positive 47 Negative 10 |
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Haitong Int'l has issued a research report anticipating Alibaba (BABA.US)'s total revenue for the quarter ending September to rise by 6.5% YoY to RMB239.5 billion, which is in line with market expectations, while lowering the quarterly adjusted EBITA forecast to RMB40.5 billion. The broker noted that the gap between Taobao and Tmall's customer management revenue and gross merchandise volume (GMV) is narrowing, putting pressure on EBITA. In addition, growth in cloud business and Alibaba International Digital Commerce Group (AIDC) meets expectations, and AIDC is expected to log a 28.5% YoY growth in 3Q. Collaboration with WeChat will also bring new users to Alibaba. The broker maintained an Outperform rating for Alibaba, with a TP adjusted to US$130, considering that the company, as an industry agent in China, will experience short-term capital inflow. AAStocks Financial News |
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