Zhi Tong Cai Jing·2025-09-29 03:40Core Viewpoint - Jianyin International has raised Alibaba's target price from HKD 174 to HKD 200.7, reflecting a 15% increase, citing Alibaba's strong potential in leveraging cloud business growth opportunities in the AI sector and reaffirming an "outperform" rating [1] Group 1: Financial Projections - The firm forecasts Alibaba's cloud business growth rates for fiscal years 2026, 2027, and 2028 to be 30%, 30%, and 25% respectively, up from previous estimates of 29%, 28%, and 15% [1] - Expected growth rates for cloud computing are projected to accelerate from 26% in Q1 of fiscal 2026 to 30%, 32%, and 32% in Q2, Q3, and Q4 respectively [1] - Revenue and profit forecasts for fiscal years 2026, 2027, and 2028 have been adjusted upward by 0.1%, 0.4%, 2% and 0.8%, 0.8%, 1.5% respectively [1] Group 2: Confidence in Cloud Business - Increased confidence in Alibaba's cloud computing growth prospects follows the APSAR conference in 2025, driven by management's plans to exceed the existing three-year RMB 380 billion AI initiative [1] - Management maintains an optimistic outlook on long-term AI demand [1] - The company's strong capabilities in AI solutions, along with impressive performance in recent model and product upgrades, contribute to this confidence [1] - A global strategy is expected to expand the potential market size for Alibaba [1]