0406 GMT - Alibaba has multiple growth drivers despite the revenue miss in certain business units, say Jefferies analysts in a research note. The e-commerce giant's total March quarter revenue was in line with consensus estimates, while logistics and international commerce unit revenue missed, the analysts note. Its domestic e-commerce businesses Taobao and Tmall's take rates are likely to continue improving in FY2026, thanks to digital marketing tool Quanzhantui and service fees, they say. Alibaba's recent push into the on-demand delivery business could also drive incremental gross merchandise value and user base, the analysts add. The analysts keep a buy rating, but cut the target price of its ADRs slightly to US$156.00 from US$160.00. The ADRs last traded at US$123.90. (tracy.qu@wsj.com)
(END) Dow Jones Newswires
May 16, 2025 00:06 ET (04:06 GMT)
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