申万宏源：维持阿里巴巴-W“买入”评级目标价197港元

智通财经2025-12-25

申万宏源发布研报称，维持阿里巴巴-W(09988)盈利预测，维持买入评级。预计阿里巴巴集团整体FY2026-FY2028收入分别为10386/11434/12506亿元，调整后归母净利润分别为1019/1455/1836亿元。SOTP估值法下，集团整体目标估值34124亿人民币，对应目标价203美元/ADS，对应上行空间34%，对应港股目标价197港币/股，对应上行空间34%。　　申万宏源主要观点...

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申万宏源：维持阿里巴巴-W“买入”评级 目标价197港元

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申万宏源：维持阿里巴巴-W“买入”评级目标价197港元