UBS published a research report stating that driven by macroeconomic recovery, Taobao's new strategy and the localization development of international e-commerce,AlibabaRevenue growth in the first quarter of fiscal year 2024 regained double-digit growth, the first time since the second fiscal quarter of 2022, and the largest exceeding expectations since the fourth fiscal quarter of 2021. It is believed that future revenue growth can remain at double-digit levels, raised the target price to HK $118, and maintained a "buy" rating.UBS raised Ali's revenue forecast for fiscal year 2024 to 2025 by 1% and 0.9% respectively to reflect the strong growth of Taobao, Tmall, international e-commerce, and the improvement of Cainiao logistics. The profit forecast was raised by 7.5% respectively driven by the profit margin outlook.% and 7.4%; The 2026 fiscal year earnings per share forecast was raised by 9%.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments