《大行報告》野村上調阿里(BABA.US)目標價至145美元 評級「買入」
野村發表報告,預期阿里(BABA.US)於2023財年首財季的內地電商收入(佣金加客戶管理服務)將按年下跌12%,跌幅大於市場預期的10%,當中「淘寶」及「天貓」的交易總額(GMV)料按年下跌8%。
該行估計,首財季阿里整個內地電商業務季度收入料按年倒退1%至1,385億元人民幣,比市場預測的1,410億元低2%。然而,野村預計阿里該業務的EBITA達420億元人民幣,高於市場預期的390億元人民幣,主因自2023財年開始集團更積極削減成本,令「淘特」及「淘菜菜」兩孵化業務的綜合虧損持續下降30%至40%。
野村下調阿里2023及2024財年收入預測分別2%及1%,EBITA預測則調升3%及6%,美股目標價由131美元上調至145美元,評級維持「買入」。
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