0532 GMT - Alibaba's cloud business revenue growth is likely to continue to accelerate, according to Daiwa analyst John Choi in a research note. Daiwa forecasts the company's cloud revenue to see an over 20% on-year growth in fiscal 1Q, following an 18% growth in the previous quarter. Despite the rise in research and development and other expenses, its cloud EBITA margin is likely to maintain a stable high-single-digit percentage margin in the coming quarters, with AI application demand continuing to rise, Daiwa says. The analyst keeps a buy rating and slightly cuts target price to HK$170.00 from HK$175.00. Shares are last traded at HK$123.30.(tracy.qu@wsj.com)
(END) Dow Jones Newswires
May 16, 2025 01:32 ET (05:32 GMT)
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