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<Research>Citi Foresees BABA-W FY1Q26 EBITA to Shed 15% YoY, Cuts TP to HKD144
Recommend 29 Positive 38 Negative 14 |
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With the shift in consumer behavior, BABA-W (09988.HK)(BABA.US) merged Ele.me and Fliggy into its China e-commerce business group and is enhancing promotional subsidies to drive cross-selling synergies, Citi said in its research report. The broker lowered the target price for Alibaba's H-shares and U.S. shares to HKD144 and USD148, respectively, while maintaining a Buy rating and initiating a 30-day short-term negative view. Alibaba's valuation is undemanding, said Citi. Yet, due to potential persistent competition and continued investment spending possibly further impacting its earnings outlook, the short-term stock price may be constrained, unless AI or cloud technology entails a re-rating opportunity. AASTOCKS Financial News Website: www.aastocks.com |
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