大行评级丨杰富瑞：阿里巴巴Q3增长势头强劲 维持“首选股”评级

Core Insights - Jefferies analysts indicate that Alibaba's growth momentum in the September quarter is expected to be robust, with a projected 10% year-over-year increase in customer management revenue [1] - The growth is attributed to increased traffic in the on-demand delivery business [1] - Alibaba Cloud's revenue growth is anticipated to accelerate, driven by strong AI demand supported by its full-stack AI infrastructure [1] - Jefferies reaffirms Alibaba as its "preferred stock" for 2026, highlighting opportunities in AI, cloud computing, and consumer sectors [1] - The firm maintains a "buy" rating with a target price of $230 for its American Depositary Receipts [1]