Major Bank Ratings | UBS: Upgraded Ali Target Price to HK$118 Rating "Buy"-To The Moon - Tiger Brokers Online Investing Community

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Major Bank Ratings | UBS: Upgraded Ali Target Price to HK$118 Rating "Buy"

格隆汇资讯2023-08-16

According to a research report published by UBS, driven by macroeconomic recovery, Taobao's new strategy and the localization development of international e-commerce,AlibabaRevenue growth in the first quarter of fiscal 2024 regained double-digit growth, which was the first time since the second quarter of fiscal 2022 and the largest exceeding expectations since the fourth quarter of fiscal 2021. It is believed that the revenue growth can remain at double-digit level in the future, raising the target price to HK$118 and maintaining the "Buy" rating.

UBS raised Alibaba's revenue forecast for fiscal 2024-2025 by 1% and 0.9%, respectively, to reflect the strong growth of Taobao Tmall and international e-commerce, as well as the positive traffic volume of Cainiao Logistics, and the profit forecast was raised by 7.5% and 7.4%, respectively, driven by the profit margin outlook; Fiscal 2026 earnings per share forecast was raised by 9%.

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Chintu
·2023-08-31
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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