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2024-12-19 10:17:22 Morgan Stanley, in its research report, said that BABA-W (09988.HK) (BABA.US) announced the sale of its entire stake in Intime and expected to receive proceeds of approximately RMB7.4 billion. The transaction was forecast to post a loss of approximately RMB9.3 billion. The sale of Intime was in line with the development strategy previously announced by the management, which was to anchor on core businesses such as Taobao and Tmall Group, Alibaba Cloud and Alibaba International Digital Commerce Group, and potentially spin off the offline retail business, the broker said. As the decrease in Intime's asset value is within market expectations, the loss was not assumed to surprise investors, especially given that it was non-cash and nonrecurring (likely adjusted for non-GAAP financial metrics). Alibaba may use the proceeds from this sale to pay a special dividend. Morgan Stanley rated Alibaba's US stock a target price of US$105 with a rating of Equalweight. ~ AAStocks Financial News Web Site: www.aastocks.com | |