BABA-SW (09988.HK) -2.950 (-3.569%) Short selling $1.05B; Ratio 11.908% (BABA.US) 's 4FQ24 results ended March were in line with expectations, Macquarie released a research report saying. Taobao Tmall Group's GMV achieved double-digit YoY growth during the period, but CMR was dented by higher subsidies, with lagging performance.
Macquarie raised its FY2025/ FY2026 adjusted EBITA forecasts by 1%/ 3% each to reflect the positive outlook for cloud business margin. Macquarie added that the Group's aggressive buybacks resulted in an improved shareholder return, with total shareholders' return amounting to US$16.5 billion, up from US$13.4 billion in 2023.
Macquarie correspondingly lifted its target price from $78.2 to $78.7. The broker did not see any potential fundamental catalysts to trigger upsides for earnings. Therefore, Macquarie kept rating at Neutral.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-05-16 16:25.) (Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)
