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《大行報告》瑞銀:阿里(BABA)目標價升至290美元 維持「買入」評級
阿思達克 05-25 10:24
瑞銀發表研究報告指維持阿里(09988.HK)作為中國互聯網業首選股,因其電商業務增長強勁,新冠疫情後的新常態下,網上消費滲透度急速上升,預期公司將收窄今年來跑輸其他電商同業的表現差距,因核心盈利增長改善,南向港股通資金的潛在獲批,以及內地在IT方面的消費增長將有助公司雲業務的轉勢。公司4月在內地的商品交易額(GMV)已回復至去年12月水平。

該行表示,目前投資者最關心公司的兩大問題,分別為公司GMV的指引,以及美國上市風險。在GMV的問題上,該行指公司預期的1萬億人民幣GMV增長目標是最低的大約數字,而在美國上市的問題上,相信公司在香港作第二上市,已分散其地域風險,即使因監管問題,公司需在美國退市,相信香港市場以及南向資金都有助抵銷。

該行調升2021年度收入預期1.3%,EBITDA預期升0.8%,美國上市股份目標價由265美元升至290美元,維持「買入」評級。

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