Deutsche Bank: maintain Alibaba-SW "Buy" rating, target price lowered 9% to HK$152

By    31 May,2022

Deutsche Bank maintained a Buy rating on Alibaba-SW (HK:9988) (09988) and lowered its 2022-23 adjusted net profit estimate by 14%/15% due to structural changes in consumer behavior and other factors, and believes it still faces challenges in the near term, with a 9% price target cut to 152, according to a research report. Hong Kong dollar. The bank said the recovery of domestic non-consumer essentials, such as apparel and cosmetics, is likely to slow this year, emphasizing that the company's new businesses, including cloud business and international commerce, are facing various challenges.