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《大行報告》阿裏巴巴(09988.HK)投資評級及目標價(表)
阿裏巴巴(09988.HK)將於8月3日(下週二)公佈截至今年6月底止2022財年首財季業績,由於公司投入包括社區團購等策性投資及面臨行業競爭、核心電商及盒馬業務的高基效應影響下,本網綜合11間券商預測阿裏巴巴2022財年首財季非公認會計準則淨利潤料介乎364.69億至421.96億元人民幣,較2021財年首財季394.74億元人民幣,按年下跌7.6%至上升6.9%;中位數爲385.85億元人民幣,按年下跌2.3%。

本網綜合6間券商預測,阿裏巴巴2022財年首財季純利料介乎253.97億至363.15億元人民幣,較2021財年首財季純利475.91億元人民幣,按年下跌23.7%至46.6%;中位數爲273.62億元人民幣,按年下跌42.5%。由於內地對互聯網平臺行業監管壓力持續,投資者將關注阿裏管理層對反壟斷政策下的最新營運指引、公司旗下餓了麼對如何落實網絡餐飲平臺維護外賣送餐員權益的指引、及集團年度活躍用戶指標及投入重點戰略領域指引等。

下表列出26間券商對其阿裏巴巴港股的投資評級及目標價:

券商│投資評級│目標價(港元)

傑富瑞│買入│328元

麥格理│跑贏大市│326元

高盛│買入(「確信買入」名單)│321元

交銀國際│買入│316元

第一上海│買入│303.85元

大華繼顯│買入│299元

廣發證券│買入│298.89元

花旗│買入│297元

元大證券│買入│296元

摩根大通│增持│295元

星展│買入│293元

中信證券│買入│288元

中國銀河國際│增持│287元

建銀國際│跑贏大市│283.5元

工銀國際│跑贏大市│280.2元

國泰君安證券│買入│280元

美銀證券│買入│278元

中金│跑贏行業│275元

德銀│買入│273元

瑞銀│買入│273元

農銀國際│買入│270元

安信證券│買入│268元

匯豐環球研究│買入│263元

大和│買入│260元

招商證券國際│買入│255元

瑞信│跑贏大市│245元

(fc/w)

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