Gelonghui, April 28 | Citibank released a report stating that at the end of May, Taobo will disclose the results for the 2024 fiscal year ending the end of February this year. The bank expects the company's net profit to increase 21% year-on-year to 2,231 billion yuan, revenue forecast to increase 8%, and gross profit expand. The bank's net profit forecast for Taobo's 2024 fiscal year is basically unchanged, but the industry's growth is expected to slow down, and the forecast for fiscal year 2025 and 2026 is lowered by 7% and 11%, respectively. Furthermore, the bank indicates that Taobo has benefited from the continued increase in market share of international brands. The company's revenue for fiscal year 2025 and fiscal year 2026 is expected to increase by 11% and 10%, surpassing the industry level. The bank lowered its target price from HK$9.4 to HK$8.3, maintaining a “buy” rating.
大行评级｜花旗：下调滔搏目标价至8.3港元 维持“买入”评级
Big Bank Rating | Citibank: Lowering Taobo's Target Price to HK$8.3 to Maintain “Buy” Rating
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