--- title: "Investment Ratings and Target Prices for Alibaba by Major Institutions (Table)" type: "News" locale: "zh-CN" url: "https://longbridge.com/zh-CN/news/278831663.md" description: "Alibaba will announce its fiscal third-quarter results for the fiscal year 2026 next Thursday, with a projected non-GAAP net profit decline of 37.6% to 50.8% year-on-year. Affected by weak consumption in the mainland and industry competition, the growth of e-commerce customer management revenue has slowed. According to ratings from 12 brokerages, firms such as Jefferies, DBS, and JP Morgan have all given buy ratings, with target prices ranging from HKD 197 to HKD 218. The market is focused on Alibaba's investments in artificial intelligence and instant retail and their impact on future performance" datetime: "2026-03-12T06:39:00.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/278831663.md) - [en](https://longbridge.com/en/news/278831663.md) - [zh-HK](https://longbridge.com/zh-HK/news/278831663.md) --- > 支持的语言: [English](https://longbridge.com/en/news/278831663.md) | [繁體中文](https://longbridge.com/zh-HK/news/278831663.md) # Investment Ratings and Target Prices for Alibaba by Major Institutions (Table) Alibaba (09988.HK) will announce its third-quarter results for the fiscal year 2026 ending December 2025 next Thursday (19th). Due to weak consumer spending in the mainland and intense industry competition, it is expected that the growth of its China e-commerce customer management revenue (CMR) will slow down (affected by the base of payment fees starting from September 2024 and the impact of full-site push technology). Losses in instant e-commerce and investments in artificial intelligence will offset the solid growth factors in cloud business. According to the forecasts of 8 brokerages, Alibaba's non-GAAP net profit for the third quarter of fiscal year 2026 is expected to be between RMB 25.099 billion and RMB 31.858 billion, compared to RMB 51.066 billion in the same period last year, representing a year-on-year decline of 37.6% to 50.8%, with a median of RMB 28.936 billion, a year-on-year decrease of 43.3%, and a quarter-on-quarter increase of nearly 1.8 times (compared to the adjusted net profit of RMB 10.352 billion in the second quarter). According to the forecasts of 14 brokerages, Alibaba's adjusted EBITA for the third quarter of fiscal year 2026 is expected to be between RMB 24.264 billion and RMB 33.7 billion, compared to RMB 54.853 billion in the same period last year, representing a year-on-year decrease of 38.64% to 55.8%, with a median of RMB 27.585 billion, a year-on-year decrease of 49.7%. Investors will focus on the group's increased investments in artificial intelligence and instant retail, both of which have led to increased losses in the "other businesses" segment. They will also observe the slowdown in Alibaba's e-commerce customer management revenue (CMR) growth and outlook guidance, GMV growth of Taobao Flash Sale, subsidies, and future operational synergies (how to strengthen TaoTian, TaoShan, FeiZhu, and GaoDe, etc.). The market will also pay attention to the instant e-commerce strategy, how the company gradually shifts its focus to optimizing unit economics and operational efficiency, the growth of cloud business, GPU supply, AI business capital expenditures, operational conditions and strategies of QianWen, and the progress of the potential spin-off of the chip business "Pingtouge" for independent listing. The table below lists the ratings and target prices for Alibaba-W (09988.HK) from 12 brokerages: Brokerage│Investment Rating│Target Price Citi│Buy│HKD 218 DBS│Buy│HKD 213 JP Morgan│Buy│HKD 210 CMB International│Overweight│HKD 198 CICC│Outperform│HKD 197 Citigroup│Buy│HKD 195 CMB International│Outperform│HKD 195 Puyin International│Buy│HKD 195 HSBC Global Research│Buy│HKD 188 UBS│Buy│HKD 185 Bank of America Securities│Buy│HKD 176 Huatai Securities│Buy│HKD 175.3 \------------------------------------------------------ The table below lists the ratings and target prices for Alibaba's American Depositary Shares (BABA.US) from 18 brokerages: Brokerage │ Investment Rating │ Target Price Nomura │ Buy │ $237 Jefferies │ Buy │ $225 JP Morgan │ Buy │ $215 DBS │ Buy │ $215 CICC │ Outperform │ $204 CMB International │ Overweight │ $204 Haitong International │ Outperform │ $203 Citi │ Outperform │ $200 China International Capital Corporation │ Outperform │ $200 Puyin International │ Buy │ $200 Citigroup │ Buy │ $197 Daiwa │ Buy │ $197 Barclays │ Overweight │ $195 HSBC Global Research │ Buy │ $193 UBS │ Buy │ $190 Morgan Stanley │ Overweight │ $180 Bank of America Securities │ Buy │ $180 Huatai Securities │ Buy │ $180 ### 相关股票 - [Alibaba (BABA.US)](https://longbridge.com/zh-CN/quote/BABA.US.md) - [BABA-W (09988.HK)](https://longbridge.com/zh-CN/quote/09988.HK.md) - [KraneShares 2x Long BABA Daily ETF (KBAB.US)](https://longbridge.com/zh-CN/quote/KBAB.US.md) - [BABA 2x Long Daily ETF - GraniteShares (BABX.US)](https://longbridge.com/zh-CN/quote/BABX.US.md) - [YieldMax BABA Option Income Strategy ETF (BABO.US)](https://longbridge.com/zh-CN/quote/BABO.US.md) ## 相关资讯与研究 - [Dear Alibaba Stock Fans, Mark Your Calendars for March 19](https://longbridge.com/zh-CN/news/278595845.md) - [Alibaba forms task force to boost AI development after Qwen chief's exit](https://longbridge.com/zh-CN/news/277877051.md) - [Jack Ma, Alibaba leaders call for education overhaul in the age of AI](https://longbridge.com/zh-CN/news/277734958.md) - [Billionaire Investor Cuts Amazon And Starts Fresh With Alibaba](https://longbridge.com/zh-CN/news/277822766.md) - [A 'Top Pick,' Says Morgan Stanley about Alibaba Stock (BABA) Ahead of Earnings](https://longbridge.com/zh-CN/news/278877605.md)