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<Research>CLSA Trims Alibaba (BABA.US) Current FY Adj. NP Forecast by 13%, Reaffirms Outperform Rating
Recommend 16 Positive 28 Negative 7 |
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CLSA published a research report, covering BABA-W (09988.HK), of which e-commerce is expected to be dampened by acute competition and reduced trade-in subsidies, while its cloud business is anticipated to maintain high growth propelled by strong AI demand. The broker projected the company's total revenue for the third fiscal quarter ending December last year to grow by 3% YoY to RMB289 billion, with adjusted EBITA sliding by 52% to RMB26.4 billion. Growth in Taobao and Tmall's CMR may slacken due to consumption and take rate increase, but the cloud business should further accelerate to a 35% YoY upswing. CLSA believed Alibaba's e-commerce is more susceptible to macro uncertainties, but Alibaba Cloud is the biggest beneficiary of the AI boom. The broker trimmed its adjusted net profit forecasts for the fiscal years ending March 2026 and 2027 by 13% and 4%, respectively, while maintaining an Outperform rating on Alibaba (BABA.US) US shares. AASTOCKS Financial News Website: www.aastocks.com |
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