0346 GMT - Alibaba may post lackluster earnings for 3Q FY 2026, though margins should gradually recover as investment in the competitive instant-delivery segment softens, UOB Kay Hian analysts say in a note. They remain cautiously optimistic on the core commerce business amid a high base effect and competition, while being bullish on the cloud business. UOB KH projects a 3.5% on-year rise in quarterly customer management revenue and a 45% drop in non-GAAP net profit. It forecasts Alibaba cloud revenue to have surged 36%. The brokerage maintains a buy rating and a HK$206 target price on Alibaba's H-shares, noting that Alibaba remains China's only listed company with full-stack AI capabilities. The stock last traded at HK$163.90. (jason.chau@wsj.com)
(END) Dow Jones Newswires
January 14, 2026 22:46 ET (03:46 GMT)
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