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《大行報告》麥格理將阿里(09988.HK)納入買入名單 目標價上調至161.6元
麥格理將阿里巴巴(09988.HK)(BABA.US)納入買入名單,重申「跑贏大市」評級,目標價由134.6元上調至161.6元。該行同時把京東(JD.US)(09618.HK)移出買入名單。 該行指,阿里巴巴股價自去年10月低位反彈七成,但仍較歷史水平低兩個標準差。縱使競爭環境仍然劇烈,但預期阿里巴巴相對電商同業的按季增長將追上,受惠業務組合轉變及宏觀復甦。該行亦相信阿里巴巴增長落後同業的差距縮窄,有助重設市場對阿里巴巴2023財年及2024財年的盈測。 該行上調對阿里巴巴2023財年至2025財年的盈利預測最多11%,反映核心商業業務展望改善,又指對阿里巴巴的目標價在市盈率而言,對比京東的22倍及騰訊(00700.HK)的23倍仍屬便宜。
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