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《大行報告》瑞信料阿里(09988.HK)上季收入按年微升0.6%略遜預期 經調整EBITA增7%至478億人民幣
瑞信發表報告,預測阿里巴巴(09988.HK)(BABA.US)截至去年12月底止2023年第三財季收入將按年增長0.6%,達到2,440億元人民幣,料零售商業客戶管理收入(CMR)料下跌9%,略低於市場預期,主要由於去年底內地疫情所影響,但在成本控制措施下預期EBITA將增長7%,達到478億元人民幣。 該行表示,關注中國去年底逐步重新開放後電商發展前景,以及阿里早前宣布集團年度目標為「進」,憧憬利潤率或加快改善,同時亦重點留意雲業務發展動態。 瑞信認為,投資者目前正著眼於接下來的消費復甦步伐,考慮到阿里在供應產品高組合方面具有優勢,服務覆蓋線上線下各種消費場景,預期可收窄與同行的增長差距,為股東帶來穩定投資回報,重申阿里為首選。計及回購計劃,該行將阿里2024至2025財年盈利預期上調3%至4%,維持對阿里巴巴(09988.HK)「跑贏大市」評級,目標價維持147港元不變。
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