《大行报告》高盛:阿里巴巴(09988.HK)拥多个增长引擎 目标价上调至341元
高盛发表研报指,在参与阿里巴巴(09988.HK)投资者日後,发掘到阿里多个增长引擎,对增长前景有信心,将目标价上调至341元,重申评级「确信买入」。
报告指,阿里潜在业务范围更扩展到房地产、杂货、快速消费品及医药等,预期合计商品成交金总额可达1.36万亿元人民币,随着二手商品、直播等变现率不足的业务逐步改善,阿里的整体电商转换率(take rate)可望提升,预期由2020年的4.3%,提升至2022年的5.1%及2024年的5.5%。
云业务方面,该行预计其估值为1,980亿美元,至2021年度EBITA将可转正,并至2024年达到约30%利润率。
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