研报掘金丨中金:维持阿里巴巴“跑赢行业”评级,上调2027及28财年盈测

格隆汇
Yesterday
中金发表报告指,阿里云业务收入及盈利维持快速增长,对正现金流贡献加快,维持对阿里巴巴的“跑赢行业”评级,并维持ADR目标价178美元及H股目标价172港元。该行预计,阿里截至9月底止2027财年第二季收入同比升9.8%至2721亿元,经调整EBITA为303亿元,非公认会计准则(non-GAAP)股东应占净利润为272亿元。该行上调阿里2027及2028财年non-GAAP股东应占净利润预测分别9%及2%,至1101亿元及1613亿元,主要由于AI Labs亏损收窄快于预期,以及云业务盈利优于预期。

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