New Street: BABA FY3Q22 Results - Challenges in the Demand Environment Remain; PT to $150
What's new: Alibaba’s reported FY3Q22 top-line results were below consensus and our estimates amid elevated competition and challenging macro environment. FY22 total revenues will likely come in at the lower end of the guided range of +20% to +23% YoY. We lower our PT from USD200 to USD150, which implies a 17.0x P/E on our FY23 estimates.Analysts:
Jin Yoon
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