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<Research>CLSA Forecasts BABA-W (09988.HK) Adj. EBITA to Hike 32.5% YoY in Last FQ, CN CMR to Maintain High Single-Digit Growth
Recommend 20 Positive 35 Negative 12 |
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CLSA released a research report forecasting BABA-W (09988.HK) (BABA.US) to post solid growth in 4FQ ended March, with total revenue growing 8% YoY to RMB237 billion and adjusted EBITA hiking 32.5% YoY to RMB32 billion. Supported by the trade-in policy and higher commission rates, China's CMR is likely to maintain a high single-digit growth, while the international business is expected to continue to expand rapidly, with a possible loss reduction. Driven by strong demand for AI products, CLSA estimated the growth of Alibaba Cloud business to accelerate further in the last fiscal quarter, with revenue rising 18% YoY to RMB30.2 billion and profit margin remaining stable. Therefore, the broker kept rating at High Conviction Outperform for BABA-W, with a target price of US$165 for its US stock. AAStocks Financial News |
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