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<Research>HSBC Research Expects BABA-W (09988.HK) AI Demand to Remain Strong, More Confident in Mid- to Long-term Cloud Biz Growth Outlook
Recommend 16 Positive 28 Negative 5 |
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BABA-W (09988.HK)'s cloud business growth accelerated to 34% YoY for 2FQ26 ended September, which is encouraging, HSBC Global Research issued a research report saying. The broker anticipated that strong AI demand will continue to drive robust growth in the cloud business. HSBC Global Research was more confident in the medium- to long-term growth prospects of its cloud business. The expanding backlog of AI-related demand shows that demand exceeded supply, and had massive growth potential, prompting the broker to raise its cloud business revenue forecasts for FY2026-2028 by 2-6%. Overall, HSBC Global Research's adjustments to its estimations for BABA-W are relatively minor. Based on the discounted cash flow method, the broker kept its target price/ rating for BABA-W's US stock at US$205/ Buy, with a target price of $200 for BABA-W's H-shares. AASTOCKS Financial News Website: www.aastocks.com |
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