大行評級|美銀:上調阿里目標價至146港元 加大投資把握持續AI增長機會
美銀證券發表研究報告,指阿里巴巴截至去年12月底止上財季業績顯著勝預期,雲業務及人工智能(AI)是阿里策略焦點及主要投資領域,管理層料雲及AI收入會在2026財年持續加速,並承諾巨大的策略投資,包括未來三年爲雲及AI基建動用逾4000億加上資本支出、AI基礎模型以及原生應用,以及將目前的電商和其他互聯網平臺業務利用AI科技轉型。該行相信,此AI需求快速擴張會令雲智能業務收入在2026財年按年增逾30%。
美銀維持對公司2026財年的收入及經調整純利預測大致不變,但上調2027財年的預測分別4%及5%,以反映來自AI的上升空間,將美股目標價由117美元升至150美元,H股目標價由114港元升至146港元,重申“買入”評級。
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