《大行報告》瑞信上調阿里-SW(09988.HK)目標價至153元 評級「跑贏大市」
瑞信發表研究報告指,阿里巴巴-SW(09988.HK)2024年首財季業績超出預期,盈利表現強勁,除核心業務穩健以外,非淘寶天貓業務利潤率亦向好。
瑞信指出,新一份財報反映出集團核心業務市場復甦,管理層預計國內消費將逐步復甦,而瑞信則預期9月底止次季中國零售商業客戶管理收入(CMR)將按年增長5%,短期內宏觀經濟可能仍然充滿挑戰,但相信不斷增長的用戶及商家基礎將爲集團帶來支持。
該行又指,阿里首財季EBITA按年增長110億元人民幣,其中約70億元人民幣來自其他業務,預期集團重組後其他細分業務利潤率將進一步上升,相應將2024至2025財年每股盈利預測上調9.9%及8.3%,目標價由147元升至153元,維持評級「跑贏大市」。
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