J.P. Morgan Chase released a research report saying that investors are advised to take advantage of the weakening of Alibaba-SW (09988.HK) and reaffirm the “gain” rating. The target price was lowered from HK$100 to HK$95. In addition, Ali's revenue for the fourth fiscal quarter is expected to increase 6% year over year to 220 billion yuan, in line with market expectations; due to increased investment, it is estimated that Ali's adjusted net profit fell 20% year on year to 22 billion yuan, 23% lower than market expectations.
小摩：重申阿里巴巴-SW(09988.HK)“增持”评级 目标价下调至95港元
Xiaomo: Reiterates the Alibaba-SW (09988.HK) “Overstock” rating target price reduction to HK$95
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