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《大行报告》美银证券降阿里(09988.HK)目标价至293元 评级「买入」
阿思达克 04-12 15:52
美银证券发表研究报告指阿里(09988.HK)加大於核心电商业务新领域的再投资,料属在一、二线城市互联网渗透成熟情况下,扩大用户基础策略的一部分,并提升用户黏性。特别是公司进军社区团购,该行料市场上只有少数行业龙头每日订单达1,000万至2,000万宗,首季每宗交易料亏损2至4元人民币;该行料明年及後年首季每日交易分别达5,000万宗及1亿宗,订单情况有改善。

报告上调阿里2021至2023年销售预测1%至6%,惟下调期内每股盈测,主因新业务投入、反垄断罚款及商户挽留开支,不过2023至2026年间增长料加快。另报告称,罚款亦去除了监管不确定性,对其庞大用户基础及云业务、菜鸟及海外业务长远看法正面,维持「买入」评级,目标价由314元降至293元。

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