Haitong International Sees Steady Improvement in Alibaba Core Biz in Last FQ, Keeps Rating Outperform
Haitong International expects Alibaba's 2Q24 total revenue to be RMB249.7 billion, up 6% YoY, in line with market consensus.
Customer management revenue is expected to rise 3% YoY to RMB82.1 billion, while Alibaba International Digital Commerce Group (AIDC) will continue strong growth of 28.2% YoY at RMB28.4 billion in 2Q24.
The cloud business is on track to reach double-digit growth in 2HFY2025.
Haitong International kept its target price at US$88 and rating at Outperform on the company.
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