Morgan Stanley lowers Alibaba's target price to $180, maintains Overweight rating

Morgan Stanley has lowered Alibaba's target price from $190 to $180, while maintaining an overweight rating. Morgan Stanley expects Alibaba Cloud's revenue to grow 45% year-on-year in the June quarter, and has raised its fiscal year 2027-2028 revenue forecast by 2% to 3%. Morgan Stanley anticipates other losses in the first quarter of fiscal year 2027 to narrow to 16.5 billion yuan, with the full-year other losses estimated at about 72 billion yuan.