CICC raised Alibaba's FY27 and FY28 non-GAAP net profit forecasts by 9% and 2%, respectively, citing faster-than-expected AI Labs loss reduction and stronger cloud profitability. The broker maintained its Outperform rating and target prices of HK$172 and US$178, implying 65% and 66% upside.
CICC remains bullish on Alibaba, raising profit estimates on accelerating cloud growth and narrowing AI losses while keeping its Outperform rating and target prices.
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