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<Research>CLSA Raises Alibaba's TP to USD200, Rating Outperform
Recommend 10 Positive 14 Negative 9 |
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BABA-W (09988.HK) estimated that demand for AI would stay strong, pushing up the power usage of global data centers in 2032 by tenfold compared to 2022, according to a report from CLSA. Accordingly, the company anticipated its capital expenditure to exceed RMB380 billion over the next three years. The report also highlighted BABA-W's collaboration with Nvidia (NVDA.US) in the AI field and plans to accelerate its global expansion. Believing that BABA-W will become China's largest cloud computing company, CLSA raised its cloud computing revenue and profit forecasts by 23%. Alibaba's (BABA.US) target price was lifted from USD155 to USD200, with a rating of Outperform. AAStocks Financial News |
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