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<Research>Citi Raises BABA-W (09988.HK) TP to HKD199, Maintains Buy Rating
Recommend 11 Positive 24 Negative 9 |
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Although BABA-W (09988.HK) trailed behind forecast for its 3QFY26 results, the management confidently explained that AI and cloud revenue was expected to top USD100 billion within five years with external cloud revenue surpassing RMB100 billion in February 2026, Citi said in its report. This implies that the CAGR will exceed 40%, powered by MaaS platforms and enterprise solutions. In light of the recovery of CMR to over 6% growth in 4QFY26, persistent improvement in EBITA, and the assumption of accelerated cloud revenue growth, the broker raised Alibaba's H-share TP from HKD195 to HKD199 and its US stock TP from USD197 to USD200. Based on a strong AI layout, the Buy rating was upheld. AASTOCKS Financial News Website: www.aastocks.com |
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