On July 5, Guolonghui reported that UBS released a report indicating that Alibaba had spent $5.8 billion to repurchase 77 million American Depositary Shares, equivalent to 26.1 billion USD remaining in the repurchase plan. The effectiveness of the plan will last until March 2027. The bank believes that Alibaba's accelerated pace of repurchase still far exceeds expectations. The $5 billion convertible bonds issued by Alibaba in May should indicate the steady execution of management's commitment to shareholder returns and may alleviate investor concerns. Looking ahead, despite Alibaba undergoing business transformation, its capital actions such as continued acceleration of repurchases and potential inclusion in southward trading should provide downward support for the stock price. The current valuation corresponds to a predicted price-earnings ratio of 9 for fiscal year 2025 and is not high. The bank gives Alibaba's target price for US shares at $105, with a buy rating.
大行评级｜瑞银：阿里加快回购的步伐仍然远超预期 予其目标价105美元
UBS Group: Alibaba's accelerated buyback pace still far exceeds expectations, giving it a target price of $105.
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