Big Bank Ratings | UBS: Raise Ali's target price to HK $118, rating "buy"

格隆汇资讯2023-08-16

UBS released a research report stating that, driven by the macroeconomic recovery, Taobao's new strategy and the localization development of international e-commerce, Alibaba's revenue growth in the first quarter of fiscal year 2024 has regained double-digit growth, which is the first time since the second fiscal quarter of 2022. For the first time since the fourth fiscal quarter of 2021, it is also the largest exceeding expectations. It is believed that future revenue growth can remain at double-digit levels, raising the target price to HK $118. Maintain a "buy" rating. UBS raised Alibaba's revenue forecast for fiscal year 2024 to 2025 by 1% and 0.9% respectively to reflect the strong growth of Taobao, Tmall and international e-commerce, as well as the improvement of Cainiao's logistics volume, and the profit...

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Chintu
2023-08-31
Chintu
What does this statement even mean - target price to HK$ 118? This is just USD 15... current priceof the stock itself is around usd 90+ So do you mean TARGET PRICE AS HKD 1180? Pls comfirm as it's conflicting.

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Maintain a \"buy\" rating. 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