Analyst Sachin Mittal from DBS raised price target of Alibaba Group Holding Ltd. to HK$117.00, projecting double-digit growth in GMV and bullish outlook for earnings in FY3/25 driven by new revenue streams.
Mittal anticipates Alibaba's stock catalysts like inclusion in the Stock Connect program by September, international commerce platforms, and cloud services market leadership contributing significantly to revenue growth.
The firm's optimistic rating is underpinned by the introduction of new revenue drivers like software service fees and expanded advertising solutions, boosting Customer Management Revenue and justifying the Buy rating.
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