0539 GMT - Alibaba's customer-management revenue growth should remain strong for the next three to four quarters, driving a rerating of the company's Taobao and Tmall group, Daiwa analysts write in a note. Alibaba's 3Q results were better than expected, especially in terms of customer-management revenue, cloud revenue, they say. Since the company's higher capital expenditure compared with peers will enable it to gain stronger market share in the cloud business over the next few years, Daiwa sees scope for a rerating of Alibaba's cloud sector.It maintains buy rating for the stock and raises its target price to HK$165.00 from HK$140.00. Shares last at HK$136.90.(jiahui.huang@wsj.com; @ivy_jiahuihuang)
(END) Dow Jones Newswires
February 21, 2025 00:39 ET (05:39 GMT)
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