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瑞信:升阿里(9988.HK)目標價至364港元 維持跑贏大市評級
格隆匯 11-06 13:49

瑞信發表研究報告,將阿里巴巴(9988.HK)目標價由354港元調高至364港元,維持跑贏大市評級。

瑞信稱阿里巴巴2021財年第二季表現符預期,收入按年增30%,非公認會計准則(Non-GAAP)除息税及攤銷前盈利(EBITA)增28%。集團業績有多項正面表現,其核心電子商務強勁增長,按年增20%,當中天貓GMV增20%,淘寶則有高雙位數字(17至19%)增長;其他非市場業務的虧損收窄;本地服務增長加快至29%;以及管理層對雙11銷售樂觀。

該行認為,集團GMV增長穩健、佣金率穩定,而餓了麼增長加快有助減低投資者對競爭的憂慮。該行預期集團今季表現強勁、毛利持續改善、收購高鑫零售帶來協同效應,以及近期應用程式升級,均為重估催化劑。 

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