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<Research>CMBI Tweaks Down Alibaba (BABA.US) TP to USD203.7; Cloud Biz Growth Stellar
Recommend 11 Positive 18 Negative 14 |
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Alibaba (BABA.US)'s revenue for 3QFY26 grew by 1.7% YoY to RMB284.8 billion, 2% below market expectations, according to CMBI's research report. Due to ongoing investments in instant commerce, user experience, and technology, Alibaba's adjusted EBITA fell by 57% YoY to RMB23.4 billion, below the market expectation of RMB31.4 billion. In contrast, Alibaba's cloud business was highlighted with revenue growth accelerating to 36%, exceeding market expectations by 2 ppts. CMBI has mildly cut its target price for Alibaba from USD206.4 to USD203.7 but kept the Buy rating unchanged. AAStocks Financial News |
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