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<Research>BOCOMI: BABA-W (09988.HK) AI & Cloud Biz Value Still Has LT Growth Potential
Recommend 19 Positive 26 Negative 8 |
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BOCOMI released a research report predicting that BABA-W (09988.HK) will see a 3.9% YoY increase in revenue for 2FQ ended September, and maintaining its previous forecast unchanged (a 0.2% decline). Of which, it is expected that Taobao Tmall Group (TTG)'s GMV growth rate will align with market trends, and CMR will remain above the GMV growth rate, approaching 11%. The drag of Taobao Instant Commerce on app operation data is expected to continue, with overall business losses anticipated at RMB37.6 billion on substantial subsidies. BOCOMI remained optimistic about BABA-W's potential in AI full-stack deployment, restructuring its e-commerce architecture with instant retail investments, integrating distant, near-field e-commerce and local/ remote service consumption demands, and further deepening user engagement. Therefore, the broker kept its target prices for BABA-W's US stock/ H-shares at US$200/ $195, with ratings kept at Buy. AASTOCKS Financial News Website: www.aastocks.com |
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