國信證券:維持阿里巴巴“優於大市”評級 目標價120-127港幣
國信證券對阿里巴巴2025財年第二季度財報進行了點評,報吿顯示公司營業收入同比增長5%,達到2365億元,主要受國際數字商業、雲業務和本地生活集團的推動。雖然淘天集團的收入增長平淡,僅同比增長1%,但公司在用户體驗上的持續投入導致其EBITA利潤率下降。雲計算業務表現強勁,AI相關收入實現三位數增長,EBITA利潤率顯著提升。公司繼續進行股份回購,計劃額度為220億美元,建議維持“優於大市”評級,目標價設定在120—127港幣。
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