Asahi shares mark weekly slide after cyberattack halts production
Investing.com - JPMorgan raised its price target on Alibaba (9988:HK) (NYSE:BABA) to HK$240.00 from HK$165.00 while maintaining an Overweight rating.
The firm noted that Alibaba’s share price has outperformed the sector average by 364 percentage points in the past three months, attributing this to better-than-expected cloud revenue growth in the second quarter of fiscal 2025 and management’s confident articulation of investment strategies in food delivery and quick commerce.
JPMorgan analysts became more positive on AliCloud after attending Alibaba’s Apsara conference last week in Hangzhou, citing future revenue generation opportunities with external clients and synergies with domestic e-commerce operations.
The investment bank raised its fiscal 2027/2028 cloud revenue estimates by 2%/6%, reflecting a more optimistic outlook on generative AI adoption and AliCloud’s monetization potential.
JPMorgan also increased its fiscal 2027/2028 China e-commerce group adjusted EBITA forecasts by 2%/3%, citing value creation from AliCloud’s AI services and applications.
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