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《大行報告》中信証券:阿里巴巴(09988.HK)「618」整體表現良好 估值壓力有望逐步緩解
中信証券發表報告指,阿里巴巴(09988.HK)整體618銷售情況良好。根據魔鏡數據,今年618活動期間該行跟蹤的40個天貓主要類目累計GMV按年增長約6%。該行對阿里中長期數字化商業服務能力相對樂觀的態度,維持「買入」評級,H股目標價160元。 中信証券認為,隨著供應鏈及快遞履約能力恢復,4至6月以來阿里電商平台銷售額正呈現逐月回暖趨勢,市場針對阿里電商增長放緩擔憂的估值壓制有望逐步得到緩解。宏觀回暖趨勢下,公司電商、雲計算等業務表現也有望在今年逐步改善。 該行維持對阿里2023至2025財年收入預測分別為8,895億元人民幣(下同)、9,579億元、10,236億元,即按年增長4%、8%、7%,並維持經調整淨利潤預測為1,249億元、1,477億元、1,628億元。
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