[ET Net News Agency, 10 February 2021] Guotai Junan International cut its target price
for Alibaba Group Holding (09988) to HK$350 from HK$360 and maintained its "buy" rating.
The research house said Alibaba's 3Q FY2021 results slightly beat its expectations. The
company would continue to work on (1) user acquisition, (2) local services, (3) cloud
business, and (4) globalization.
Guotai Junan cut its gross margin estimates for FY2021 to FY2023 and revised down its
total operating expenses ratio forecasts in the same period. It expects that Alibaba will
continue to enjoy advantages from digitalization in China. (KL)
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09988 BABA-SW
Nominal 
66.850 -1.050 (-1.546%) Research Report
10/02/2021 17:17
Guotai Junan cuts Alibaba Group (09988) to HK$350; "buy"
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