Major Bank Ratings | Nomura: Raises Alibaba's target price to $237, potential IPO of Pingtouge could unlock value

Glonghui, January 27｜Nomura released a research report stating that, according to reports, Alibaba has decided to support the independent listing of its chip business subsidiary, Pingtouge. If the independent listing plan is ultimately implemented, it is expected to unlock significant value for Alibaba's chip business. Considering the relatively low transparency of Pingtouge's information and data, Nomura values Alibaba Cloud and Pingtouge at approximately $390 billions, based on a forecasted sales multiple of about 8.5 times for 2027.