[ET Net News Agency, 11 January 2021] UBS Global Research cut its target price for
Alibaba Group Holding (09988) to HK$310 from HK$340 and reiterated its "buy" rating.
The research house lowered December quarter revenue and EBITA estimates by 5-7%, and
expects Customer Management revenues (CMR) to decelerate in the quarter versus the
September quarter.
UBS believes online retail sales trends decelerated in December versus October and
November based on NBS and China Post data. Alibaba likely saw a bigger slowdown versus JD
(09618) and PDD based on QuestMobile daily and monthly app user data.
However, Alibaba has not seen any regulatory impact (at least so far), which leads UBS
to believe there is some consumer fatigue after the 11/11 shopping festival and
potentially some normalization of offline retail. (KL)
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09988 BABA-SW
Nominal 
69.800 +1.350 (+1.972%) Research Report
11/01/2021 17:54
{I-bank focus}UBS trims Alibaba (09988) to HK$310; "buy"
| Remark: | Real time quote last updated: 23/04/2024 17:59 |
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