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2026-07-10 16:38:37 BofA Securities released a research report forecasting that BABA-W (09988.HK)'s revenue for the first fiscal quarter ended June 2026 will grow 8.8% YoY, in line with market expectations. Strong AI demand was expected to drive cloud revenue growth of 45% YoY, compared with 38% growth in the previous quarter. The broker projected BABA-W's CMR to subtract 7.7% YoY in 1Q26, reflecting a relatively weak industry environment in 2Q26. Total EBITA was forecast at approximately RMB26.2 billion, down 33% YoY. BofA Securities believed 2027 will mark a key earnings inflection point for BABA-W, with core e-commerce profit returning to growth amid a notable narrowing in new retail losses, providing sustainable cash flow to support cloud development and AI investments. The broker forecast adjusted EBITA to increase from about RMB76 billion in 2026 to about RMB103 billion in 2027. It maintained revenue forecasts for 2027-28 largely unchanged, raised earnings forecasts for 2027-28 by up to 2%, kept unchanged its Hong Kong and US stock TP at HKD168 and USD172 respectively, and reiterated the Buy rating. ~ AASTOCKS Financial News Website: www.aastocks.com | |