大行評級丨交銀國際:維持阿里巴巴“買入”評級 憧憬2026財年雲收入增長將加快
交銀國際發表研究報吿指,阿里巴巴截至今年3月底止2025財年第四季度收入按年增長7%,撇除高鑫零售及銀泰業務的收入增長10%,高於該行預測的8%。期內經調整EBITA按年增長36%,經調整每股盈利增長23%。憧憬2026財年阿里雲收入增長將加快,交銀國際預測雲業務於2026財年首季及全年收入增幅可達到19%及20%,利潤率保持在高單位數百分比。該行維持對其“買入”評級,H股目標價159港元不變。
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