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<Research>BOCI Keeps Buy on BABA-W (09988.HK) with Strong Core Biz
Recommend 14 Positive 28 Negative 15 |
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BABA-W (09988.HK) posted solid 2QFY26 results, with its core business remaining robust, BOCI's research report indicated. Total revenue climbed 5% YoY, mainly contributed by stable CMR from China's core e-commerce (up 10% YoY) and accelerating growth in cloud business (up 34% YoY). The broker stayed upbeat about these two business segments. It set a target price of USD187 for Alibaba (BABA.US) in the US market and HKD182 for the Hong Kong market, maintaining a Buy rating for both. BOCI narrowly lowered its total revenue forecast for Alibaba for FY2027-28 by 1-2%, roughly maintaining its net profit forecast unchanged, but slightly adjusted its earnings forecast for China's core e-commerce down by 1-2% to reflect lowered revenue expectations. AASTOCKS Financial News Website: www.aastocks.com |
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