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<Research>CCBI Cuts BABA-W's TP to HKD146.1; Intensified Investment in Instant Retail to Impact Earnings in ST
Recommend 26 Positive 45 Negative 14 |
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As competition in China's food delivery and instant retail market is getting more and more intensified, BABA-W (09988.HK) (BABA.US) has announced plans to invest RMB50 billion over the next 12 months to ramp up subsidies for merchants and consumers of Taobao Instant Commerce, according to a report from CCBI. In CCBI's estimate, BABA-W's increased investment in its instant retail business will impact its earnings performance in the short term. The broker cut its target prices for BABA-W's H-shares from HKD160.6 to HKD146.1 and for its US shares from USD164.7 to USD149.8, both with an Outperform rating maintained. AAStocks Financial News |
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