Credit Suisse expects Alibaba’s revenue to grow 9% on year in Q1 fiscal 2024

 

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Alibaba Group’s will grow by 9% year over year to 223 billion yuan over the first fiscal quarter of 2024 and the adjusted EBITA is expected to jump 22% to 41.5 billion yuan, benefitting from operating leverage and robust margin CMR recovery, Credit Suisse said in a research note.

During the course of Alibaba’s restructuring, the market focus will likely shift from near-term growth to new fund flows and capital actions, it said. 

Credit Suisse raised the forecast of Alibaba’s 2024-25 earnings peer share by 1% – 2%, and maintained the target price of HK$147 for the stock, with an Outperform rating.

Alibaba’s stocks gained 1.2% to close at HK$89.85 in Hong Kong on Wednesday.