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<Research>UOB Kay Hian: BABA-W (09988.HK) 3FQ Results Miss; TP Cut to HKD192
Recommend 11 Positive 13 Negative 6 |
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UOB Kay Hian released a research report on BABA-W (09988.HK), which reported lower-than-expected earnings for 3QFY26, and revenue grew by 2% YoY to RMB284.8 billion, 1.7% below market expectations. The non-GAAP net profit was RMB16.7 billion, down 44% YoY, missing the broker's forecast, mainly due to increased investment in Taobao Instant Commerce. The broker cut Alibaba's revenue and earnings forecasts for the fiscal quarter ending March by 2% and 20%, implying a YoY rise of 4% and a drop of 41%. The broker reduced its non-GAAP earnings forecast for FY27 by 5%, implying a net margin of 12%. UOB Kay Hian lowered Alibaba's target price from HKD206 to HKD192, maintaining a Buy rating. AASTOCKS Financial News Website: www.aastocks.com |
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