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09988 BABA-SW
RTNominal up73.000 +0.500 (+0.690%)
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23/10/2020 17:00

{I-bank focus}HSBC lifts Alibaba Group (09988) to HK$364

[ET Net News Agency, 23 October 2020] HSBC Global Research lifted its target price for
Alibaba Group (09988) to HK$364 from HK$337 and maintained its "buy" rating.
The research house said Ant Group's updated prospectus on 21 October shows accelerated
revenue growth at 50% in 3Q, versus 38% in 1H. HSBC now values Ant Group at US$320bn (up
from US$240bn), with US$102bn attributable to Alibaba's 31.8% stake post-IPO.
While Ant is the leader in all four key markets (payment, credit, investment, insurance)
it operates, HSBC noted that the credit, investment, and insurance markets are still
fragmented, suggesting room for Ant to consolidate. (KL)

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