0331 GMT - Alibaba Group's core businesses are likely to maintain a decent performance in the near term, according to Nomura analysts. They note that Taobao and Tmall Group's customer management revenue, a metric gauging how much money Alibaba earns from merchants, exceeded the consensus forecast for the March quarter. The incremental investment in on-demand delivery is unlikely to affect the overall profitability of Alibaba's domestic e-commerce unit, they add in a research note. Meanwhile, the e-commerce giant's cloud business is expected to benefit from the AI trend, thanks to Alibaba's leadership in large language models. The analysts keep a buy rating and a $172.00 target price on Alibaba's ADRs, which last closed at $123.46. (tracy.qu@wsj.com)
(END) Dow Jones Newswires
May 18, 2025 23:31 ET (03:31 GMT)
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