CICC: Maintains "Outperform" rating on Alibaba-W, target price of HKD 109

Zhitong
2024.09.02 01:59

CICC released a research report stating that it maintains a "outperform" rating on Alibaba-W, with revenue and profit forecasts unchanged and a target price of HKD 109. The bank sees Alibaba's core business market share stabilizing after organizational changes and strategic adjustments, with other businesses reducing losses beyond expectations. Coupled with shareholder returns and the catalyst of entering the Hong Kong Stock Connect, the bank is optimistic about Alibaba's future performance

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