Major Bank Ratings | UBS: Raises Alibaba Target Price to HK$118 with "Buy" Rating-To The Moon - Tiger Brokers Online Investing Community

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Major Bank Ratings | UBS: Raises Alibaba Target Price to HK$118 with "Buy" Rating

格隆汇资讯2023-08-16

UBS released a research report indicating that, driven by macroeconomic recovery, Taobao's new strategy, and the localization of international e-commerce,AlibabaRevenue growth returned to double digits in the first quarter of fiscal year 2024, the first time since the second fiscal quarter of 2022 and the largest exceedance of expectations since the fourth fiscal quarter of 2021. We believe that revenue growth can be maintained at a double-digit level in the future. We raised our target price to HK$118 and maintained our "Buy" rating.

UBS raised its revenue forecasts for Alibaba by 1% and 0.9% for fiscal years 2024 and 2025, respectively, to reflect the strong growth of Taobao, Tmall, and international e-commerce, as well as the positive volume of Cainiao Logistics. Driven by the profit margin outlook, it raised its profit forecasts by 7.5% and 7.4%, respectively. The earnings per share forecast for fiscal year 2026 has been raised by 9%.

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Chintu
·2023-08-31
What does this statement even mean - target price to HK$ 118? This is just USD 15... current priceof the stock itself is around usd 90+ So do you mean TARGET PRICE AS HKD 1180? Pls comfirm as it's conflicting.
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This is just USD&nbsp;15... current priceof the stock itself is around usd 90+ So do you mean TARGET PRICE AS&nbsp;HKD 1180? Pls comfirm as it's conflicting.&nbsp;","listText":"What does this statement even mean - target price to HK$ 118? This is just USD&nbsp;15... current priceof the stock itself is around usd 90+ So do you mean TARGET PRICE AS&nbsp;HKD 1180? Pls comfirm as it's conflicting.&nbsp;","text":"What does this statement even mean - target price to HK$ 118? This is just USD 15... current priceof the stock itself is around usd 90+ So do you mean TARGET PRICE AS HKD 1180? 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