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<Research>UOB Kay Hian Expects BABA-W (09988.HK) 2FQ AI Cloud Biz to Grow Strongly, Lifts TP to $203
Recommend 17 Positive 25 Negative 4 |
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UOB Kay Hian released a research report predicting that BABA-W (09988.HK)(BABA.US) will deliver solid 2FQ26 results. Although intense competition in instant retail will pressure profit margins, the outlook for core commerce and cloud business was optimistic. Currently, customer management revenue (CMR) is forecasted to grow by 10% YoY, outpacing EBITA growth. The Taobao Instant Commerce business is also estimated to incur a loss between RMB35 billion and RMB40 billion. UOB Kay Hian also raised its FY2026-2028 capital expenditure forecasts for BABA-W to RMB410 billion, and lifted its FY2026-2029 revenue forecasts for Alibaba Cloud, with the 3-year CAGR revised from 28% to 32%. The broker kept rating at Buy, and lifted its target price from $200 to $203. AASTOCKS Financial News Website: www.aastocks.com |
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