BABA-SW (09988.HK) announced the results for the first fiscal quarter in FY22 with its non-GAAP EPS rising 12% YoY, beating the previous estimates of Goldman Sachs and the market consensus by 4% and 15% respectively, reported Goldman Sachs.
BABA-SW restated RMB930 billion as the revenue guidance for FY22 and announced to expand its share-buyback program by 50% from USD10 billion to USD15 billion, which illustrated the management's confidence in the company's long-term growth outlook, remarked Goldman Sachs.
The broker restated the Buy rating for BABA-SW while keeping it on the Conviction Buy list with a target price of HKD321.
BABA-SW restated RMB930 billion as the revenue guidance for FY22 and announced to expand its share-buyback program by 50% from USD10 billion to USD15 billion, which illustrated the management's confidence in the company's long-term growth outlook, remarked Goldman Sachs.
The broker restated the Buy rating for BABA-SW while keeping it on the Conviction Buy list with a target price of HKD321.