Alibaba's Taobao Overhaul Expected to Boost Revenue by 6%: Bank of America
Bank of America expects Alibaba to report a 6% year-over-year revenue increase to 248 billion yuan in its upcoming earnings, aligning with analyst predictions. The growth is driven by a 2.3% rise in customer management revenue in the Chinese market, reaching 81.5 billion yuan, and a single-digit increase in gross merchandise value following the overhaul of its Taobao and Tmall platforms.
The recent update to Taobao, which streamlined the user experience, has positioned Alibaba to slightly outpace the industry. Analyst Joyce Ju maintains an Outperform rating on Alibaba and has raised the price target from $103 to $106.
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