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大和:重申对阿里巴巴(9988.HK)买入评级 目标价290港元
格隆汇 05-14 12:51

大和发表研究报告指,阿里巴巴(9988.HK)第四财季业绩好坏参半,其中整体收入高市场预期4%,但核心商业非公认会计准则(Non-GAAP)EBITA则较预期低,同时新财年收入指引亦无任何惊喜;在投资较高下,估计阿里2022财年Non-GAAP EBITA将按年持平,虽重申其买入评级,目标价290港元。

大和表示,管理层预期22财年收入将达9300亿元人民币,而新财年阿里计划将新增利润投入新业务,包括淘宝特价版、社区团购及本地服务等,以提高其潜在市场规模,此举或会拖低核心商业业务的整体盈利能力,而由于投资规模较过往庞大,相信将成短期的忧虑,并下调阿里22至23财年每股盈测7%。

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