BOC International released a research report stating that Alibaba-W (09988) delivered solid results for the second quarter of fiscal year 2026, ending September, with its core business remaining robust. Total revenue during the period increased 5% year-over-year, primarily driven by steady growth in China core commerce customer management revenue (CMR) (up 10% YoY) and accelerated expansion in cloud computing (up 34% YoY). The firm remains optimistic about these two business segments.

The bank set a target price of $187 for Alibaba's U.S. shares (BABA.US) and HK$182 for its Hong Kong shares, maintaining a "Buy" rating for both. BOC International slightly lowered its total revenue forecast for Alibaba by 1%–2% for fiscal years 2027–2028 but largely kept net profit projections unchanged. However, it trimmed the earnings forecast for China core commerce by 1%–2%, reflecting reduced revenue expectations.