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《大行報告》摩通:阿里(09988.HK)進入巨大投資周期料2022財年盈利或零增長 @ 2021-05-16T08: Back Hot News
Keyword:阿里巴巴
Concept:
瑞信亦指,雖然阿里巴巴收入指引大致符合預期,但市場可能對阿里巴巴上述的投資計劃有負面解讀,而且新投資及CGP需要多年的投資,意味短期盈利增長空間有限,而且電商行業競爭亦不利公司。瑞信調低阿里巴巴2022至23年預測預測9至13%,並削目標價17%,由304元降至251元,評級維持跑贏大市。該行又指,阿里巴巴最低估值為190美元,這應為長線投資者提供良好的買入機會。
瑞信及大和分別下調阿里巴巴目標價,大和指阿里巴巴業績並無驚喜,而雲收入增長37%比預期差7%,增加投資可能會進一步降低其核心商業業務的整體盈利能力,每股盈利預期下調7%,目標價由300元下調至290元。而瑞信認為新業務投資增加將拖累盈利,將2022至2023財年盈利預測下調9%至13%,目標價由304元大幅降至251元。
天價罰款嚴重地影響了阿里巴巴集團的業績,按歐元計算,阿里巴巴在1-3月份損失了九億七千四百七十萬歐元,如果沒有這一罰款,網購領域冠軍自認會有262億人民幣,也就是相當於33億歐元的盈利。盡管如此,阿里巴巴「考慮到中國市場的潛在能力」仍然對前景表示樂觀,的確,如今誰能繞過阿里巴巴?但是,許多跡象讓投資人異常警覺。

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