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<Research>CMBI Continues to Favor Alibaba Group Holding (BABA.US) as 1 of Core AI Beneficiaries, Drops TP to US$206.4
Recommend 13 Positive 21 Negative 5 |
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BABA-W (09988.HK)'s 2FQ26 revenue was RMB247.8 billion, up 4.8% YoY, 2.7%/ 1.1% ahead of the expectations of CMBI/ the market, respectively, CMBI released a research report saying. Cloud business revenue grew by 34% YoY, surpassing the estimations of the broker/ market of 30%/ 28%. CMBI believed the Company's plan to significantly reduce losses in the instant retail business in 3FQ26 aligns with the forecasts of the broker/ market. However, the market may still focus on more solid progress in generating synergies from such business. Therefore, based on the sum-of-the-parts valuation method, CMBI dropped its target price for BABA-W's US stock to US$206.4 from US$209.4. Nonetheless, the broker continued to favor BABA-W as one of the core beneficiaries in the AI sector, with rating kept at Buy. AASTOCKS Financial News Website: www.aastocks.com |
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