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<Research>CLSA Expects Alibaba Group (BABA.US) Quarterly Rev. to Benefit from CMR/ Cloud Biz Expansion; Rating Kept at Outperform
Recommend 33 Positive 44 Negative 23 |
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CLSA released a research report predicting that BABA-W (09988.HK)'s revenue for the second fiscal quarter ended September will be flat YoY at approx. RMB234 billion. Excluding the impact of selling Sun Art Retail Group, revenue is expected to rise by 10% YoY, driven by YoY increase in customer management revenue (CMR)/ cloud business by 10%/ over 30% respectively. Of which, CMR benefited from e-commerce traffic and commission rate expansion, while the cloud business is boosted by strong AI demand. Therefore, the broker lowered its 2025/ 2026 adjusted net profit forecasts for BABA-W by 15%/ 7% each, and kept rating at Outperform, with a target price of US$200 for BABA-W's ADR. AASTOCKS Financial News Website: www.aastocks.com |
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