金吾财讯 | 海通证券发布研报指，阿里巴巴(09988)2025财年三季度实现收入2801.54亿元，同比增长8%。经营利润412.05亿元，同比增长83%。公司淘天CMR、云业务表现均超预期，未来三年拟投入3800亿元人民币用于AI和云计算。
该行预测，公司2025FY-2027FY归属于普通股股东的Non-GAAP净利润各1657、1822、1981亿元，给以公司2026FY整体合理市值区间3.1万亿-3.6万亿港元，合理价值区间H股165-190港元/股。
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.