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<Research>Citi Keeps BABA-W's TP at HKD165, Expects Steady Growth in Cloud Biz Rev.
Recommend 26 Positive 42 Negative 17 |
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According to a report from Citi, BABA-W (09988.HK)'s 4QFY25 customer management revenue (CMR) grew by 12% YoY, while TTG EBITA rose by 8%, exceeding expectations. However, 18%/ 8% YoY growth in its cloud revenue/ cloud profit margin fell short of market expectations even though they were in line with the broker's forecasts. Due to the surge in demand from enterprise customers across various industries, BABA-W's management anticipated cloud service revenue to gradually accelerate in FY26. The broker kept a target price of HKD165 for its H-shares and USD169 for its US shares. It also reiterated the Buy rating, considering the group a representative of China's AI and macroeconomic rebound. AAStocks Financial News |
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