Citi: Alibaba-W (09988) revenue CAGR of about 40% for fiscal years 2026-2033; reiterates "Buy" rating.

Zhito Finance APP has learned that Citi issued a research report reiterating its "Buy" rating on Alibaba (09988, BABA.US) and a target price of US$190/HK$189. The bank preliminarily believes that the goal mentioned by Alibaba CEO Eddie Wu of "achieving 20GW of AI infrastructure scale by 2032" may correspond to the bank's forecast for fiscal year 2033, and could US$160 billion in external cloud revenue in fiscal year 2033, implying an increase of US$60 billion compared with the bank's current forecast of US$100 billion in revenue for fiscal year 2031.