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《大行報告》瑞信下調阿里(09988.HK)目標價至226元 評級「跑贏大市」
阿思達克 08-04 09:51
瑞信發表報告表示,阿里巴巴(09988.HK)2020財年首財季表現符預期,非標準會計準則EBITA按年下跌8%,但勝預期,新投資虧損少於預期。 該行指,投資者可留意阿里巴巴多元化策略、監管、增長前景。其中年度活躍消費者達9.12億,並帶動系內其他應用程式增長,核心客戶管理收入7月份見較高的基數。該行認為阿里受監管風險相對同業較低。 瑞信降阿里於2022財年至2024財年盈利預測各3.3%、8.4%及8.7%,以反映更高的稅率,及客戶管理收入增長,維持「跑贏大市」評級,目標價由245港元降至226港元。
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