You are browsing the Hong Kong website, Regulated by Hong Kong SFC (CE number: BJA907). Investment is risky and you must be cautious when entering the market.
《大行報告》美銀證券降阿里-SW(09988.HK)目標價至103元 下調收入及盈測
美銀證券發表報告指,預計阿里-SW(09988.HK)截至去年12月底止第三財季的總收入將按年增5%至2,610億元人民幣,較對上一季的按年增長9%有所放慢,主要是由於近期淘寶天貓的收入波動。該行預計,由於商品總價值(GMV)錄低單位數增長及貨幣化率略低,國內市場的客戶管理收入(CMR)按年增1%至920億人民幣,並料在跨境商務快速擴張的推動下,阿里巴巴國際數字商業集團(AIDC)和菜鳥物流將持續保持強勁勢頭。 該行預計集團上季雲收入將按年增3%至270億元人民幣,另大部分非核心細分市場的季節性強勁和利潤率改善,將被AIDC加大投資和超過10億元人民幣的一次性虧損所抵銷。因此,該行預計經調整EBITA按年增1%至530億元人民幣。 報告將阿里2024至26財年的收入預測下調2%至4%,經調整純利降3%至12%,以反映國內消費者需求持續疲弱和淘寶天貓長期增長投資、AIDC的全球擴張和雲端人工智能潛力。H股目標價亦相應由110港元下調至103港元,維持「買入」評級,認為估值吸引,監管阻礙已大致被解決。
Follow us
Find us on Facebook, Twitter , Instagram, and YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!
Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.
uSMART
Wealth Growth Made Easy
Open Account