BofA Securities analyst Joyce Ju maintains $Alibaba (BABA.US)$ with a buy rating, and adjusts the target price from $106 to $124.
According to TipRanks data, the analyst has a success rate of 62.3% and a total average return of 14.9% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Alibaba (BABA.US)$'s main analysts recently are as follows:
Expectations are set for Alibaba to disclose its fiscal second-quarter outcomes around early to mid-November, with projections indicating a 6% annual increase in total revenue. The core revenue from Taobao Tmall is anticipated to remain relatively unchanged from the previous year. It is forecasted that the revenue from customer management on China marketplaces will see a modest rise of 1.8% year-over-year, based on the assumption of a mid-single digit percentage growth in gross merchandise value, or GMV, coupled with a slightly lower blended take rate.
The firm maintains a conservative stance on Alibaba, influenced by subdued consumption and ongoing reinvestments impacting earnings. It is anticipated that Alibaba's Gross Merchandise Value will see a year-over-year increase of 4%-5%, compared to the higher single-digit growth in the previous quarter. Additionally, an acceleration in customer management revenue growth is expected, potentially reaching 2%-3% as opposed to the 0.6% observed in the first quarter, bolstered by software service fees.
Alibaba is anticipated to encounter challenges in its core-core revenue and profit at Taobao and Tmall Group during fiscal Q2 due to subdued consumer spending. Nevertheless, a forward-looking perspective is advised, with the expectation of positive catalysts in the upcoming periods. When considering the 'big 3' China e-commerce players, which currently have comparable forward PE multiples, Alibaba stands out as the most appealing investment option.
Note:
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