Overview

• Morgan Stanley reiterated an Overweight rating on September 29 and raised its Alibaba price target to $200 from $165, citing faster momentum in cloud and core operations.
• The bank lifted Alicloud growth forecasts to 32% for fiscal 2026 and 40% for fiscal 2027, and increased capex assumptions to Rmb130–135 billion annually for fiscal 2026–2028 with 10–15GW additional data‑center capacity by 2032.
• A Seeking Alpha author upgraded Alibaba to Buy, pointing to a June quarter rebound that included roughly 10% comparable revenue growth, 26% year‑over‑year cloud revenue growth, and continued triple‑digit gains in AI‑related products.
• Shares have climbed more than 110% year to date, while the stock trades near 21 times earnings, a discount to peers such as Amazon cited in recent market coverage.
• Alibaba plans about $53 billion for cloud and AI over three years, including work with Nvidia and new large language models, even as U.S. lawmakers renew pressure on the SEC to consider delisting the company’s ADRs.