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《大行報告》花旗上調阿里巴巴(09988.HK)目標價至334元 維持「買入」評級
阿思達克 02-03 14:21
花旗發表報告指,雖然已預期阿里巴巴(09988.HK)2021財年第三季會有穩健業績,但其總收入增長37%及非國際通用會計準則(non-GAAP)盈利上升25%的表現,是較預期更為強勁,特別是天貓的實際成交總額(GMV)超出預期的增長19%,而客戶管理收入(CMR)上升20%則是符合預期。

該行表示,阿里巴巴核心市場EBITA增長10%,意味相比客戶管理收入有約10%的去槓桿,反映集團承諾投資核心零售市場內的新業務,包括淘寶宜播、淘寶雜貨等。

花旗上調阿里巴巴目標價,由305元升至334元,此相當預測2023年市盈率23倍,維持「買入」評級。該行又調升集團2021財年第四季收入預測0.4%,non-GAAP盈利則下調8.8%;該行對阿里2021財年全年收入及non-GAAP盈利預測分別調升1.3%及1%;2022財年收入及non-GAAP盈利預測分別升0.7%及降7.9%;2023財年收入及non-GAAP盈利預測則分別升0.6%及降3.5%。

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