《大行報告》瑞銀上調阿里(09988.HK)目標價至124元 評級「買入」
瑞銀發表報告指出,阿里(09988.HK)(BABA.US)將於11月6日披露2024財年第二季業績,該行預期公司收入增長8%至2,230億元人民幣,客戶管理收入(CMR)增長放緩至5%。毛利擴張方面,該行預期阿里經調整EBITA按年增長16%至420億元人民幣。在宏觀環境疲弱下,相信投資者已消化公司商品交易總額(GMV)增長疲軟。
該行認為,對於阿里季績應關注在消費者支出行為的變化、復甦步伐和競爭更加激烈的市場中的策略;成本進一步優化的空間;重點業務板塊重組及分拆進度;近期廣告產品升級後的客戶管理收入趨勢。
此外,該行指除了內地消費復甦的潛在好處之外,阿里的吸引力還包括客戶管理收入的上升;集團重組後毛利提升;有利的風險回報,包括分拆阿里雲及菜鳥IPO等資本行動,或其持有約30%股權的螞蟻金服相關新聞,均有望成為催化劑。該行認為阿里估值不高,對其H股目標價由118元上調至124元,對其美股目標價由120美元上調至127美元,評級「買入」。
Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!
![](/hk/assets/image/code.84ab0b.png)
Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of this article is for reference only. It does not constitute an offer, solicitation, recommendation, opinion or guarantee of any securities, financial products or instruments.The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance.