伯恩斯坦怀疑阿里巴巴的低股价可能是一个价值陷阱

金融界2023-06-29

阿里巴巴估值依然便宜，但低增长和竞争加剧是两大担忧。阿里巴巴集团控股有限公司的股票可能是一个“价值陷阱”，一位刚刚下调该公司股票评级的分析师表示。伯恩斯坦的Robin Zhu承认，阿里巴巴的股价“仍然非常便宜”。但他担心，竞争问题和艰难的营销环境将使其难以从现在开始升值。周一晚间，他将该股评级从跑赢大盘下调至市场表现，同时将其美国存托凭证目标价从130美元下调至98美元。他写道:“一年前，我们升级...

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精彩评论

我是黄教主
2023-06-29
我是黄教主
还能更低吗？
汪远
2023-06-29
汪远
阿里巴巴觉醒的太晚了，就好比龟兔赛跑藐视乌龟一样！
里二外三
2023-06-29
里二外三
已经是没落行业了。
三人
2023-06-28
三人
说说你对这篇新闻的看法...

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Zhu写道，他认为阿里巴巴有潜力在6月这个季度改善其总商品量的增长，但根据阿里巴巴商家的反馈，他对“营销支出意愿不足”表示担忧。他最近的谈话表明，商家更倾向于在竞争对手平台拼多多和抖音上花钱。“从现在开始，季度（比较）变得更加困难，我们担心这会导致价值陷阱风险，”Robin Zhu继续说道。他指出，如果核心电子商务领域的竞争问题得不到解决，他“不相信低市盈率和适度的每股收益（EPS）增长能够推动持久的股价表现。”阿里巴巴正处于重大转型之中，计划剥离其云计算业务，并改组剩下的公司的领导层。此次分拆尤其旨在释放股东价值，其思路是，阿里巴巴庞大企业的各个部门可以单独获得更高的估值。Robin Zhu说，他不太确定此举将如何发挥作用。他写道:“关于云计算的分拆，我们的主要问题涉及与潜在的美国制裁风险相关的适当折扣、私营部门的商业情绪，以及……有多少阿里巴巴股东愿意在第一天出售。”他最近下调了这部分业务的目标市盈率，指出其中30%与私有云或混合云服务有关，这一领域可能会继续拖累增长和利润率。阿里巴巴有兴趣分拆其菜鸟物流业务和生鲜杂货业务，但Robin 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