Haitong International released a research report expecting that Alibaba Group Holding Limited (BABA.US) 's 2Q24 total revenue will be RMB249.7 billion, up 6% YoY, in line with market consensus.
It is expected that customer management revenue will rise 3% YoY to RMB82.1 billion, while Alibaba International Digital Commerce Group (AIDC) will continue to record 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 added.
Haitong International kept its target price at US$88 and rating at Outperform on the Company.
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