Zhi Tong Cai Jing·2025-10-02 03:35Core Viewpoint - Morgan Stanley has raised the target price for Alibaba-W (09988) by 45.5%, from HKD 165 to HKD 240, and also increased its US stock target price from USD 170 to USD 245, maintaining an "Overweight" rating [1] Group 1: Stock Performance and Market Position - Alibaba's stock has outperformed the average of its peers over the past three months, primarily due to better-than-expected cloud revenue growth in Q2 2025 and management's investment strategy in food delivery and fast commerce [1] - Morgan Stanley's optimism regarding Alibaba Cloud has increased following the company's recent Cloud Summit in Hangzhou, highlighting future revenue growth opportunities from external clients and synergies with domestic e-commerce [1] Group 2: Financial Forecast Adjustments - The company has adjusted its cloud revenue forecasts for fiscal years 2027 and 2028 upwards by 2% and 6%, respectively, driven by a more optimistic outlook on the adoption of GenAI and the monetization of Alibaba Cloud [1] - Adjustments have also been made to the adjusted EBITDA forecasts for the Chinese e-commerce group for fiscal years 2027 and 2028, increasing by 2% and 3% respectively [1]