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<Research>BEA Securities Expects BABA-W 1FQ Adj. EBITA to Grow 13% YoY
Recommend 28 Positive 42 Negative 13 |
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BEA Securities released a research report predicting that BABA-W (09988.HK)(BABA.US) will see its adjusted EBITA grow by 13% YoY in 1QFY26 ending June 2023. The cloud business was foreseen to continue being a growth highlight, with Alibaba Cloud's revenue anticipated to hike 23% YoY. Investors are likely to eye on whether the group will continue to increase capex to bolster the growing demand for computing power in the cloud business. However, the broker noted that the group launched Taobao Instant Commerce in May this year and increased investment in local life service platforms like Ele.me in June. It predicted that the adjusted EBITA loss for the local life services business in 1FQ will be over RMB5 billion, becoming a major factor denting the margin during the period. BEA Securities rated BABA-W at Buy with a target price of HKD156. AASTOCKS Financial News Website: www.aastocks.com |
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