Morgan Stanley: BABA-SW (09988) rated "outperform" with a target price lowered to HKD 126.4.

15:12 17/11/2023

Morgan Stanley has lowered its earnings per share forecast for Alibaba-SW (09988) for the fiscal years 2024 and 2025 by 3% and 5% respectively, in order to reflect a conservative outlook on the consumer market.

"Morgan Stanley released a research report stating that the quarterly performance of BABA-SW (09988) until the end of September met market expectations, with stable upward trends in its main operating data. However, the company announced that it will no longer pursue the comprehensive spin-off of its cloud intelligence business due to chip restrictions and that Hema will also postpone its IPO. These news will restrict short-term upward potential and reverse recent catalysts. Morgan Stanley has removed Alibaba's Hong Kong shares from its selected list and changed the rating to "outperform the market," with the target price lowered from HKD 145.8 to HKD 126.4. The bank has also lowered the earnings forecast per share by 3% and 5% for the fiscal years 2024 and 2025, respectively, reflecting a cautious view on the consumer market."

Ministry of Industry and Information Technology: In the first two months, the total revenue of China's telecommunications industry reached 290.4 billion yuan, and the scale of 1Gbps users continues to expand.

Financial activities nourish the fields, not delaying the farming season - HARBIN BANK is fully committed to supporting the spring farming production in 2026.

CSTONE PHARMA-B(02616): Sugelizumab Recommended Again in ESMO Guidelines [I, A] - Used for Consolidation Treatment of Stage III Non-Small Cell Lung Cancer

Financial activities nourish the fields, not delaying the farming season - HARBIN BANK is fully committed to supporting the spring farming production in 2026.

CSTONE PHARMA-B(02616): Sugelizumab Recommended Again in ESMO Guidelines [I, A] - Used for Consolidation Treatment of Stage III Non-Small Cell Lung Cancer