Bocom International forecasts Alibaba's revenue growth to hit 5% and 9% in fiscal years 2026 and 2027, respectively, accompanied by profit growth of 4% and 14%. The bank reaffirms its "Buy" rating and maintains Alibaba's target price at HK$159. According to the bank's report, in the fourth quarter of fiscal year 2025, Alibaba's revenue climbed 7%, adjusted EBITA surged 36%, and earnings per share rose 23%. Notably, Taobao and Tmall's e-commerce market share remained stable, with a growing monetization rate. The cloud business revenue exhibited a trend of accelerating quarter-over-quarter, with an anticipated growth of 19% to 20% for fiscal year 2026. Alibaba Cloud's profit margin continued to hover at a stable high single-digit level, while its international business and local lifestyle business are steadily advancing towards their profitability targets.