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<Research>HSBC Research Lifts BABA-W (09988.HK) TP to $156, Envisions Sequential Improvement in Outlook
Recommend 40 Positive 74 Negative 25 |
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HSBC Global Research report covered BABA-W (09988.HK), of which cloud business in 1QFY26 was under the limelight, with expectations for sequential improvement in outlook. The broker raised its forecast for cloud business revenue growth for FY2027-28 by 3%, expressing greater confidence in further accelerated growth. The target price for BABA-W was revised up from HKD146 to HKD156. The broker also noted that the market share of Quick Commerce orders pioneered the industry, with monthly active customers surging by 200% to 300 million since April, and the number of active riders shot up by 3x to 2 million. The group expected Quick Commerce unit economics (UE) to improve by October on expanding scale, whereas the broker lifted FY2027-28 earnings by 3-6%. At the same time, as Quick Commerce will bode well for domestic CMR, the broker raised its CMR growth forecast for FY2026 from 7% to 9%. The target price for Alibaba (BABA.US) was added from USD150 to USD160, maintaining a Buy rating, with a more constructive outlook on AI and CMR. AASTOCKS Financial News Website: www.aastocks.com |
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