Alibaba Group Holding Limited (NYSE:BABA) was reiterated as “Overweight” by Morgan Stanley on September 29, with a raised price target of $200 per share from $165. The firm highlighted accelerating growth in its cloud division and strong momentum in core operations.

Morgan Stanley increased cloud growth estimates for F26 and F27 to 32% and 40%, respectively, driven by capex increases, model upgrades, partnerships, and international expansion. The firm is particularly bullish on Alicloud following the Apsara Conference.

The firm raised capex estimates for datacenter capacity expansion, expecting 10-15GW additional capacity by 2032. Solid demand was cited, with token numbers doubling every 2-3 months.

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Read more at Yahoo Finance: Alibaba (BABA) Reaffirmed “Overweight” by Morgan Stanley Amid Cloud Acceleration