Daiwa: Expects Alibaba-W (09988.HK) cloud revenue to grow over 50% year-on-year in the second fiscal quarter; reiterates "Buy" rating.

According to Zhitong Finance APP, Daiwa released a research report stating that it has increased confidence in the profitability prospects of Alibaba-W's (09988.HK) cloud business, and currently forecasts that cloud revenue for the second fiscal quarter ending at the end of September this year will grow by more than 50% year-on-year; the bank has raised Alibaba's earnings per share forecasts for fiscal years 2027 to 2029 by 2% to 3% to reflect the improved profitability prospects of the cloud business, reiterating a "Buy" rating and maintaining a target price of HK$180.