Guohai Securities released a research report saying that considering the continued acceleration of cloud revenue/profit growth, the orderly loss reduction in the immediate retail business, and the gradual stabilization of traditional e-commerce business, and adjusted Alibaba-W profit forecasts, the company's FY2027-2029 revenue is estimated to be 11,312/12,862/14,886 billion yuan, respectively, 955/1,558/24.9 billion yuan, and non-GAAP net profit to mother is 13360/1,758/236.3 billion yuan, respectively. The corresponding P/E is 18.6x/11.4x/ 8.3x, neutral gave Alibaba a total target market value of RMB 3113.4 billion for the 2028 fiscal year, corresponding to a target price of RMB 156 /HK$184, maintaining a “buy” rating.

Guohai Securities released a research report saying that considering the continued acceleration of cloud revenue/profit growth, the orderly loss reduction in the immediate retail business, and the gradual stabilization of traditional e-commerce business, and adjusted Alibaba-W profit forecasts, the company's FY2027-2029 revenue is estimated to be 11,312/12,862/14,886 billion yuan, respectively, 955/1,558/24.9 billion yuan, and non-GAAP net profit to mother is 13360/1,758/236.3 billion yuan, respectively. The corresponding P/E is 18.6x/11.4x/ 8.3x, neutral gave Alibaba a total target market value of RMB 3113.4 billion for the 2028 fiscal year, corresponding to a target price of RMB 156 /HK$184, maintaining a “buy” rating.