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2026-10-09 12:52:37 Jefferies published a research report forecasting solid performance across business segments of BABA-W (09988.HK) for the next fiscal quarter ending September 2026. The broker estimated total revenue to grow 9.6% YoY, in line. Revenue from AI cloud and computing power services was expected to soar more than 50% YoY to RMB60.5 billion, outperforming the market forecast of 48% growth, while segment profit margin is expected to improve QoQ to 12.3%. The broker also estimated cloud revenue growth to accelerate in 3FQ and 4FQ, with cloud revenue for FY2028 ending March 2028 potentially growing more than 50% YoY. For the e-commerce business, Jefferies estimated net CMR to decline 5% YoY to RMB75 billion, while Quick Commerce losses were estimated to narrow QoQ to about RMB9.8 billion. Overall EBITA was projected at RMB30.4 billion, above the market consensus forecast of RMB26.7 billion. The broker maintained its Buy rating on BABA-W, raising the Hong Kong-listed shares TP from HKD184 to HKD186, and lifting the US-listed Alibaba Group Holding Limited (BABA.US) TP from USD190 to USD192. ~ AASTOCKS Financial News Website: www.aastocks.com | |