From Investing.com:

Morgan Stanley lowers Alibaba’s price target to $85, anticipating another tough quarter. Analysts project RMB260bn in total revenue for 3QF24, with non-GAAP EBITA at RMB52.1bn and non-GAAP EBITA margin at 20%. They anticipate low-single-digit GMV growth and slow CMR growth. The bank believes Alibaba’s business transformation will be lengthy but notes the potential for improved capital management.



Read more: Morgan Stanley expects Alibaba to report ‘another painful transitional quarter’ By Investing.com