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<Research>G Sachs Keeps Buy Rating on BABA-W (09988.HK), Drops EBITA Growth Forecasts for CN E-commerce
Recommend 20 Positive 27 Negative 7 |
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Although BABA-W (09988.HK)'s e-commerce total transaction growth slowed in 2FQ26, Alibaba Cloud's revenue grew by 34% YoY during the period, Goldman Sachs released a research report saying. AI-related capital expenditure increased by 80% YoY, beating expectation, helping to further strengthen the vision for AI-driven development. Therefore, the broker kept rating at Buy. Goldman Sachs largely maintained its valuation of Alibaba Cloud at US$54 per share, and kept its positive view of BABA-W as China's largest cloud service provider. Due to market competition and investment in instant retail, the broker lowered its FY2026-2028 EBITA growth forecasts for China e-commerce from 2%/ 11%/ 9% to 1%/ 5%/ 5%. Goldman Sachs also lifted its FY2026-2028 adjusted net profit forecasts by -11%/ +6%/ +3%, and chopped its target prices for BABA-W's H-shares/ US stock from $199/ US$205 to $192/ US$197. AASTOCKS Financial News Website: www.aastocks.com |
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